Answered step by step
Verified Expert Solution
Question
1 Approved Answer
For these, I am needing to know the excel formula to compare my answer to the correct ones. The Company began operations in 2022. Its
For these, I am needing to know the excel formula to compare my answer to the correct ones.
The Company began operations in 2022. Its comparative income statements and balance sheets follow. Use a formula to calculate the ratios below. The AVERAGE formula must be used in any ratios using average accounts receivable, average inventory or average total assets. Net sales Cost of goods sold Gross margin Operating expenses Net income Company Comparative Income Statements For Years Ended December 31, 2025-2022 2025 2024 2023 $330,000 $296,000 $257,000 145,000 275,000 169,000 185,000 21,000 88,000 120,000 10,000 41,000 $65,000 $11,000 $47,000 2022 $ 181,000 158,000 23,000 11,000 $12,000 Cash Accounts receivable, net Merchandise inventory Plant assets, net Total assets Zoe Dekok Company Comparative Balance Sheets For Years Ended December 31, 2025-2022 2025 2024 2023 $92,000 $127,000 $62,000 92,000 83,000 72,000 65,000 43,000 76,000 180,000 180,000 160,000 $429,000 $433,000 $370,000 2022 $134,000 51,000 24,000 150,000 $359,000 Current liabilities Long-term liabilities Common stock Retained earnings Total liabilities and equity $44,000 190,000 60,000 135,000 $429,000 $83,000 220,000 60,000 70,000 $433,000 $51,000 200,000 60,000 59,000 $370,000 $47,000 240,000 60,000 12,000 $359.000 2024 2023 2025 0.0000 2025 2024 2023 Liquidity and Efficiency Current ratio Acid-test ratio Accounts receivable turnover Inventory turnover Total asset turnover Solvency Debt ratio Equity ratio Sum of Debt and Equity ratios Debt-to-equity ratio Profitability Profit margin ratio Gross margin ratio Return on total assets 2025 2024 2023 41 42 43 44 45 46 47Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started