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Excerpts from Dowling Company's December 31, 2013 and 2012, financial statements and key ratios are presented below (all dollar values are in millions): 2013 2012
| Excerpts from Dowling Company's December 31, 2013 and 2012, financial statements and key ratios are presented below (all dollar values are in millions): |
| 2013 | 2012 | |
| Accounts receivable (net) | $30 | $26 |
| Net sales | $160 | 134 |
| Cost of goods sold | $85 | 70 |
| Net income | $30 | 27 |
| Inventory turnover | 5.00 | |
| Return on asset | 11.4% | |
| Equity Multiple | 2.47 |
| Dowling's 2013 profit margin is (rounded): |
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Advanced Accounting And Auditing Theory And Practice
Authors: Prof. R.B. Patel
1st Edition
8188730882, 978-8188730889
