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Compute the Actual Debt Service Margin Ratio for 2011 State to the second decimal place: 35.417 would be entered as 35.42 Don't round until the
Compute the Actual Debt Service Margin Ratio for 2011
State to the second decimal place: 35.417 would be entered as 35.42
Don't round until the end of the problem
Income Statement | Actual | |||||
2009 | 2010 | 2011 | 2012 | 2013 | 2014 | |
Net sales | 20,457,500,000 | 22,651,073,578 | 24,626,909,085 | 27,077,735,407 | 31,157,829,110 | 35,270,662,552 |
Cost of goods sold | 14,661,675,108 | 16,855,248,686 | 18,446,325,339 | 20,088,322,962 | 22,978,699,103 | 25,872,568,268 |
Gross margin | 5,795,824,891 | 5,795,824,891 | 6,180,583,746 | 6,989,412,445 | 8,179,130,006 | 9,398,094,284 |
Selling, general and administrative | 4,152,161,530 | 4,690,230,889 | 4,641,866,247 | 5,197,890,566 | 6,200,835,283 | 6,466,305,041 |
Depreciation and amortization | 296,600,000 | 320,800,000 | 310,300,000 | 341,700,000 | 496,800,000 | 530,582,400 |
Total operating expenses | 4,448,761,530 | 5,011,030,889 | 4,952,166,247 | 5,539,590,566 | 6,697,635,283 | 6,996,887,441 |
Operating profit | 1,347,063,360 | 784,794,001 | 1,228,417,498 | 1,449,821,879 | 1,481,494,723 | 2,401,206,842 |
Interest expense, net | 204,575,000 | 226,510,735 | 246,269,090 | 270,777,354 | 311,578,291 | 352,706,625 |
Other non-operating expenses (gains) before taxes | 82,418,552 | (7,227,150) | 7,824,147 | 15,903,070 | (98,872,581) | 411,782,993 |
Earnings before income tax provision | 1,060,069,808 | 565,510,416 | 974,324,261 | 1,163,141,455 | 1,268,789,013 | 1,636,717,224 |
Income tax provision | 300,328,924 | 144,699,514 | 244,524,908 | 300,234,685 | 333,065,254 | 436,113,803 |
Net earnings | 759,740,883 | 420,810,902 | 729,799,352 | 862,906,770 | 935,723,758 | 1,200,603,421 |
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