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Income statement information for Sadie Company is below: $175,000 Sales Cost of goods sold 115,000 Gross profit $ 60,000 Using vertical analysis of the income
Income statement information for Sadie Company is below: $175,000 Sales Cost of goods sold 115,000 Gross profit $ 60,000 Using vertical analysis of the income statement for Sadie Company, determine the gross profit margin. 29% 66% 100% 34% Use this financial information from Harding Company to answer the next three questions: $ 40,000 Accounts payable Accounts receivable 65,000 Accrued liabilities 7,000 Cash 30,000 40,000 Intangible assets Inventory 72,000 110,000 Long-term investments 75,000 Long-term liabilities Marketable securities 36,000 Notes payable (short-term) 30,000 Property, plant, and equipment 625,000 Prepaid expenses 2,000 Based on this data, what is the amount of quick assets? $66,000 $203,000 $205,000 $131,000 Using the data from Question 2 above, what is the amount of working capital for Harding Company? $168,000 $203,000 $238,000 $128,000
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