Here are some data taken from the annual financial statements of the Genevrier company at the end of its third financial year, on December 31, 2017:

Income statement data for the year 2017

Turnover $ 275,000 Sales costs (170,000) All other charges (including taxes) (95,000) Net income $ 10,000

Statement of financial position data as of December 31, 2017

Current assets $ 90,000 All other assets 212,000 Total assets 302,000 Current liabilities 40,000 Non-current liabilities 66,000 Share capital (10,000 shares) 116,000 Retained earnings 80,000 Total liabilities and equity $ 302,000

Work to do: Analyze the data from the financial statements of the company Genevrier for the year 2017 by answering the following questions. Present all your calculations. 1. What is the gross margin? 2. What is the amount of earnings per share? 3. If the tax rate is 25%, what is the profit before tax? 4. What is the average selling price per share? 5. Assuming the company neither declared nor paid a dividend during 2017, what is the initial balance (as of January 1, 2017) of retained earnings?