Question
PharmaPlus reported the following for the year 2023: Revenue: $50 million Cost of Goods Sold: $20 million Operating Expenses: $15 million Interest Expense: $600,000 Taxes:
- PharmaPlus reported the following for the year 2023:
Revenue: $50 million
Cost of Goods Sold: $20 million
Operating Expenses: $15 million
Interest Expense: $600,000
Taxes: $3 million
Total Assets: $35 million
Current Assets: $10 million
Current Liabilities: $5 million
Calculate the operating income.
Determine the net income.
Compute the quick ratio and the debt ratio.
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Income Tax Fundamentals 2013
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
31st Edition
1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516
