Question
NOP Ltd., a fashion retailer, presents the following data for the fiscal year ended March 31, 2023: Sales Revenue: $14,000,000 Cost of Goods Sold: $8,500,000
NOP Ltd., a fashion retailer, presents the following data for the fiscal year ended March 31, 2023:
Sales Revenue: $14,000,000
Cost of Goods Sold: $8,500,000
Operating Expenses: $3,500,000
Depreciation Expense: $400,000
Interest Expense: $150,000
Income Tax Expense: $300,000
Accounts Receivable: $1,200,000
Inventory: $2,500,000
Accounts Payable: $1,000,000
Total Current Assets: $3,500,000
Total Current Liabilities: $1,500,000
Requirements:
Prepare a comprehensive income statement for NOP Ltd. for the fiscal year ended March 31, 2023.
Calculate the gross profit margin.
Determine the net profit margin.
Compute the current ratio.
Calculate the inventory turnover ratio.
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