Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Galaxy United Inc 2019 Balance Sheet Cash 16,500 Account Payable 134,700 Account Receivable 56,700 Long term debt 135,500 Inventory 186,700 Total Liabilities 270,200 Current Assets

Galaxy United Inc

2019 Balance Sheet

Cash

16,500

Account Payable

134,700

Account Receivable

56,700

Long term debt

135,500

Inventory

186,700

Total Liabilities

270,200

Current Assets

259,900

Common Stock

140,000

Net fixed Assets

282,100

Retained Earnings

131,800

Total Assets

542,000

Total Liabilities & Equity

542,000

Galaxy United Inc

2019 Income Statement

Net Sales

614,100

Cost of Goods Sold

21,400

Depreciation

11,200

Earnings before Interest and Taxes

81,500

Interest Expenses

10,100

Earnings before Taxes

71,400

Taxes

28,900

Net Income

42,500

What is the Net Profit Margin?

A.

0.069

B.

0.052

C.

0.116

D.

0.132

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Quantitative Finance Its Development Mathematical Foundations And Current Scope

Authors: T. Wake Epps

1st Edition

0470431997, 9780470431993

More Books

Students also viewed these Finance questions