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Consider the following information from the financial statements for Rock Inc. Last Year This Year Accounts Receivable 25,316 24,621 Inventory 39,081 36,776 Total Current Assets
Consider the following information from the financial statements for Rock Inc.
Last Year | This Year | |
Accounts Receivable | 25,316 | 24,621 |
Inventory | 39,081 | 36,776 |
Total Current Assets | 144,888 | 124,335 |
Total Assets | 448,597 | 451,544 |
Total Current Liabilities | 22,884 | 24,910 |
Total Liabilities | 260,458 | 330,533 |
Sales | 471,370 | |
Cost of Goods Sold | 142,148 | |
Operating Expenses | 106,554 | |
Tax Expense | 10 | |
Calculate this years' gross profit ratio. (enter 2 decimal places. e.g. enter .2968 as .30)
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