Question
AutoParts Ltd. reported the following for the year 2023: Revenue: $18 million Cost of Goods Sold: $7 million Operating Expenses: $6 million Interest Expense: $250,000
- AutoParts Ltd. reported the following for the year 2023:
Revenue: $18 million
Cost of Goods Sold: $7 million
Operating Expenses: $6 million
Interest Expense: $250,000
Taxes: $1 million
Total Assets: $15 million
Current Assets: $4 million
Current Liabilities: $2 million
Calculate the operating income.
Determine the net income.
Compute the quick ratio and the debt ratio.
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Income Tax Fundamentals 2013
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
31st Edition
9781285586618
