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need help with 4-a year 2016 and 2-a year 2016 only. 2017 2016 Income Statement Sales Revenue Cost of Goods Sold $120,000 $199,000 56,000 52,000
need help with 4-a year 2016 and 2-a year 2016 only.
2017 2016 Income Statement Sales Revenue Cost of Goods Sold $120,000 $199,000 56,000 52,000 Gross Profit Operating Expenses Interest Expense 64,000 39,000 5,000 57,000 36,000 5,000 Income before Income Tax Expense Income Tax Expense (30%) 20,000 6,000 16,000 4,800 Net Income $ 14,000 $ 11,200 Balance Sheet Cash Accounts Receivable, Net Inventory Property and equipment, Net $ 66,400 $ 14,300 47,000 37,000 30,000 48,000 115,000 125,000 Total Assets $258,400 $224,300 Accounts Payable Income Tax Payable Note Payable, Long-Term $ 77,400 $ 50,200 1,100 600 50,000 50,000 Total Liabilities Contributed Capital (9,500 shares) Retained Earningst 128,500 95,000 34,900 100,800 95,000 28,500 Total Liabilities and Shareholders' Equity $258,400 $224,300 4-a. Shareholders' equity totalled $100,000 at the end of 2015. Compute the return on equity (ROE) ratios for 2017 and 2016. (Round your answers to 1 decimal place.) Return on Equity 11.01% 2017 2016 : % 2-a. Compute the net profit margin for 2017 and 2016. (Round your answers to 1 decimal place.) Net Profit Margin 11.7% 2017 2016 %Step by Step Solution
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