Gradebook ORION Downloadable eTextbook ce FULL SCREEN P nent Problem 14-7A [2 Your answer is partially correct. Try again. An incomplete income statement and an incomplete comparative balance sheet of Deines Corporation are presented below. Additional information: 1. The accounts receivable turnover for 2017 is 10 times. All sales are on account. 2. 3 The profit margin for 2017 is 14.5%. Return on assets is 22% for 2017. 4. 5. The current ratio on December 31, 2017, is 3.0. 6, The inventory turnover for 2017 is 4.8 times. Compute the missing information given the ratios above. DEINES CORPORATION Income Staternent For the Year Ended December 31, 2017 Net sales Cost of goods sold Gross proft $13,640,000 7886400 5753600 Operating expenses 2.064,600 Income from operations All Rights Reserved. A Division of