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Complete the ratios listed based on the following Income Statement and Balance Sheet following the screenshot posted. Complete the ratios listed based on the following
Complete the ratios listed based on the following Income Statement and Balance Sheet following the screenshot posted.
Complete the ratios listed based on the following Income Statement and Balance Sheet. ABC Company Income Statement Last Year ick Ratio Sales $1,000,000 $900,000 Current Ratio 650,000 Cost of Goods Sold Gross Profit Accounts Receivable Turnover Operating Expenses Inventory Turnover $50,000 Selling Expenses Administrative Expenses Net Profit on Sales Total Operating Expenses Gross Profit Margin $115,000 ating Income Interest Expense $123,000 $17,500 Return on Assets Net Income before Taxes Return on Equ ncome Tax Expense $34,125 $36,925 Working Capital Debt to Equity Times Interest Earned Net Income after Taxes ABC Company Balance Sheet Current Assets Accounts Receivable Invent $21,000 $17,500 $4,950 $18,900 $15,750 Total Current Assets $44,000 Non-Current Assets Machinery & Equipment Furniture &Fixtures Transportation Equipment Accumulated Depreciation $100,000 $15,000 $25,000 $17,500 $90,000 $13,500 $22,500 $15,750 Total Non-Current Assets $122,500 $110,250 Total Assets $166,500 $149,850 Current Liabilities %22,500 $13,950 $25,000 Accounts Payable Notes Payable Wages Payable Current Liabilities $41700 $37,530 Non-Current Liabilities Long-Term Notes $27,000 %24,300 Total Liabilities $61,830 Stockholders' Equity $65,000 $58,500 Retained Earnings Common Stock Total Equity $97,800 Total Liabilities & Equity $166,500 $149,850Step by Step Solution
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