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As an accountant for General Motors, you are given the following financial data for the fiscal year ending December 31, 2023: Total assets: $50,000,000 Total
As an accountant for General Motors, you are given the following financial data for the fiscal year ending December 31, 2023:
- Total assets: $50,000,000
- Total liabilities: $30,000,000
- Total equity: $20,000,000
- Net income: $5,000,000
- Sales revenue: $40,000,000
- Cost of goods sold: $24,000,000
- Operating expenses: $8,000,000
- Interest expense: $1,000,000
- Income tax expense: $2,000,000
Calculate the following ratios for General Motors for the fiscal year ending December 31, 2023:
- Current ratio
- Debt-to-equity ratio
- Gross margin ratio
- Net profit margin ratio
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