Financial details for ApparelKings Ltd. are as follows:
oRevenue: $38 million
oCost of Goods Sold: $18 million
oOperating Expenses: $10 million
oNet Income: $6 million
oTotal Assets: $45 million
oTotal Liabilities: $18 million
Requirements:
oCalculate the gross profit and net profit margins.
oCompute the return on equity (ROE).
oDetermine the quick ratio, assuming inventory is $5 million and current liabilities are $10 million.