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Husain, Inc.s income statement and other financial information for the current year is presented below. Hussain, Inc. Income Statement For the year ended December 31
Husain, Inc.s income statement and other financial information for the current year is presented below. |
Hussain, Inc. | |||
Income Statement | |||
For the year ended December 31 | |||
Sales revenue | $ | 249,131 | |
Cost of goods sold | 82,360 | ||
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Gross profit | 166,771 | ||
Selling, general & administrative expenses | 15,885 | ||
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Operating income | 150,886 | ||
Interest expense | 5,547 | ||
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Income before taxes | 145,339 | ||
Income tax expense | 5,214 | ||
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Net income | $ | 140,125 | |
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Balance sheet information: | |||
Current assets | $ | 259,000 | |
Noncurrent assets | 518,000 | ||
Current liabilities | 68,000 | ||
Long-term debt | 136,000 | ||
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Using the above information a. Perform vertical analysis of the income statement. (Round your answer to the nearest whole percent.) HUSSAIN, INC Income Statement For the year ended December 31 Amount S 249,131 82,360 166,771 15,885 150,886 5,547 145,339 5,214 $ 140,125 Percent (%) 100 Sales revenue Cost of goods sold Gross profit Selling, general, and administrative expenses Operating income Interest expense Income before taxes Income tax expense Net income b. Calculate the debt-to-assets ratio. (Round your answer to 2 decimal places.)
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