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Please complete the yellow highlighted parts. Please show the formulas if the number or figures are not provided in the problem. Powerful Tools Inc. Powerful
Please complete the yellow highlighted parts. Please show the formulas if the number or figures are not provided in the problem. | ||||
Powerful Tools Inc. | Powerful Tools Inc. | |||
Income Statement | Balance Sheet | |||
For the Year Ended December 31, 2022 | As of December 31, 2022 | |||
2022 | 2022 | |||
Sales | Ratio | Assets | ||
Cost of Goods Sold | Formula | Cash | 70,000 | |
Gross Profit | Ratio | Accounts Receivable | 50,000 | |
Operating Expenses | Formula | Inventories | Ratio | |
Earnings Before Interest and Taxes | Ratio | Total Current Assets | Formula | |
Interest Expense | Formula | Gross Fixed Assets | 1,000,000 | |
Earnings Before Taxes | Formula | Accumulated Depreciation | Formula | |
Taxes | Formula | Net Fixed Assets | Formula | |
Net Income | 50,000 | Total Assets | Ratio | |
Liabilities and Owner's Equity | ||||
Notes: Tax Rate | 40% | Accounts Payable | 20,000 | |
Short-term Bank Notes | Formula | |||
Ratio | Value | Total Current Liabilities | Formula | |
Inventory Turnover | 5.00x | Long-term Debt | Ratio | |
Net Profit Margin | 7% | Total Liabilities | Ratio | |
Total debt ratio | 60.00% | Common Equity | Formula | |
Gross Profit Margin | 30.00% | Total Liabilities and Owner's Equity | Formula | |
Operating Profit Margin | 15.00% | |||
Return on Total Assets | 5.00% | |||
Long-Term Debt Ratio | 50.00% | |||
1. Please use the logics behind ratios to obtain possible dollar values for the applicable account. | ||||
2. Follow through the logics one by one. |
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