Horngren's Introduction to Financial Accounting, 11th Edition

Chapter 4, Problem 53P

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Mereck&Co Incorporated.

See link for table with data.

1. Prepare a combined multi-step statement of income.

2. Prepare a classified balance sheet. Include the correct number for retained earnings.

3. The average common stockholders' equity for the year was $56,874 million. what was the percentage of net income to average common sthockholders' equity.

4. The average total assets for the year were $105,454.5 million. What was the percentage of net income to average total assets?

5. a) Compute gross profit percentatge and b) percentage of net income to sales.