FoodDelight reported the following for the year 2023: Revenue: $35 million Cost of Goods Sold: $15 million

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FoodDelight reported the following for the year 2023:

Revenue: $35 million

Cost of Goods Sold: $15 million

Operating Expenses: $10 million

Interest Expense: $450,000

Taxes: $2.5 million

Total Assets: $25 million

Current Assets: $7 million

Current Liabilities: $3.5 million

Calculate the operating income.

Determine the net income.

Compute the quick ratio and the debt ratio.

Related Book For answer-question

Income Tax Fundamentals 2013

ISBN: 9781285586618

31st Edition

Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill

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Posted Date: May 29, 2024 08:51 AM

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FoodDelight reported the following for the year 2023: Revenue: $35 million Cost of Goods Sold: $15 million

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Income Tax Fundamentals 2013

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