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Please HELP Metro Sporting Goods Balance Sheet Metro Sporting Goods Income Statement $ 150,000 SALES Cost of Goods Sold $ 13,500 $ $ 7,000 5,000
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Metro Sporting Goods Balance Sheet Metro Sporting Goods Income Statement $ 150,000 SALES Cost of Goods Sold $ 13,500 $ $ 7,000 5,000 2,500 GROSS MARGIN ASSETS Current Assets Cash Accounts Receivable Inventory Fixed Assets Building Equipment TOTAL ASSETS $ 136,500 $ $ 75,000 10,500 $ $ 100,000 Operating Expenses Salaries Payment on Building Advertising Insurance Utilities Misc Expense Total Operating Expense $ 80,000 $ 7,500 $ 12,000 $ 15,000 $ 10,000 $ 4,000 $ 128,500 $ 10.000 LIABILITY & EQUITY Current Liabilities Accounts Payable Long Term Liabilities Mortgage Loan Term Loan Owners Equity TOTAL LIABILITY & OWNER EQUITY Net Profit from Operations $ 8,000 $ $ $ $ 65,000 5,000 20,000 100,000 3,000 Income Taxes Net Profit (Loss) After Taxes $ $ 5,000 6. Which of the following depicts Metro Sporting Goods Return on Equity? a. $8,000/$100,000 b. $5,000/$100,000 $5,000/$20,000 d. $20,000/$100,000 c. 7. How much revenue did Metro bring in for the period shown? a. $100,000 b. $150,000 c. $136,500 d. $5,000 8. What are Metro's Total Liabilities? a. $10,000 b. $65.000 c. $80,000 d. $100,000 2 points: Based upon the info you have, do you believe that investing in Metro Sporting would be a good investment? Why or why not? (to receive both points, provide 2 valid reasons)Step by Step Solution
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