Question
calculate the firms net profit margin. Round the answers to two decimal places in percentage form. (Write the percentage sign in the units box). Balance
calculate the firms net profit margin.
Round the answers to two decimal places in percentage form. (Write the percentage sign in the "units" box).
Balance Sheet December 31, 2013
Cash and marketable securities | $112,000 | Accounts payable | $211,000 |
Accounts receivable | $325,000 | Notes payable | $51,500 |
Inventories | $426,000 | Accrued expenses | $50,100 |
Prepaid expenses | $10,700 | Total current liabilities | $312,600 |
Total current assets | $873,700 | Long-term debt | $225,000 |
Gross fixed assets | $1,514,000 | Par value and paid-in-capital | $117,000 |
Less: accumulated depreciation | $315,000 | Retained Earnings | $1,418,100 |
Net fixed assets | $1,199,000 | Common Equity | 1,535,100 |
Total assets | $2,072,700 | Total liabilities and owners equity | $2,072,700 |
Income Statement, Year of 2013
Net sales (all credit) | $3,256,600.00 |
Less: Cost of goods sold | $2,572,714.00 |
Selling and administrative expenses | $323,000.00 |
Depreciation expense | $115,000.00 |
EBIT | $245,886.00 |
Interest expense | $29,600.00 |
Earnings before taxes | $216,286.00 |
Income taxes | $86,514.40 |
Net income | $129,771.60 |
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