BOT BUS 109

Safari File Edit View History Bookmarks Window Help The 5 15 PM QE goced.instructure.com Topic: Week #/10 Question #2 M Reading Mode: Accounting for Purchases Course Here G Student Support Hub Income Statement JUS 156 Co 2013 2014 2015 2016 Revenue $27,750 $45,750 $55,000 $70,000 Cost of Goods Sold $10,125 $5,000 $7,500 $12,500 Gross Profit $17,625 $40,750 $47,500 $57,500 Account Operating Expenses $3,250 $11,500 $15,250 $17,500 ATTHE STONE Net Income $14,375 $29,250 $32,250 $40,000 Dashboard Balance Sheet 2013 2014 2015 2016 How would you Courses Assets escribe Marc Love Cash $125 SO $750 $1,250 Groups Accounts Berenviable $5,600 $4,925 58,250 $8 750 Total Assets $5,725 $4,925 $9,000 $10,000 Calendar Liabilieis Accounts Payable SO SO $225 $350 Inbox Debt - Credit Card $4,625 $7,575 $8 250 $8.750 Total Liabilities $4,625 $7,575 $8,475 $9,100 HPSCAN_20201 5001559757p Equity Paid In Capital $1,000 $1,000 $1,000 $1,000 Retained Earnings $100 $3,650 -$475 -$100 10 0 Total Equity $1,100 -$2,650 $525 $900 US140ASS6LIBS Total Liabilities and STE 5,725 $4,925 $9,000 $10,000 TORFF.docx 1. Calculate two (2) ratios for the company. (See page 512-513). Next to your calculation interpret what the ratio means about Sam's business. (Be clear here so that your fellow classmates learn from your analysis). 2. What do you think happens to all of that net income Sam is generating