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Please show me the steps on how to get the answers below Gross Margin % = Gross Margin/Net Sales Current Ratio == Current Assets /
Please show me the steps on how to get the answers below
Gross Margin % = Gross Margin/Net Sales Current Ratio == Current Assets / Current Liabilities Consider notes payable is long term. Debt-to-Equity = Total Liabilities / Owners Equity Net Income / # of Common Stock outstanding CS Outstanding = 5000 shares
Cash | 174535.7 |
Accounts Receivable | 582380 |
Allowance for Bad Debt | -61488.3 |
Inventory | 1733000 |
Fixed Assets | 917500 |
Accumulated Depreciation | -39202 |
Accounts Payable | -630000 |
Payroll W/H&Taxes Payable | -9527.95 |
Interest Payable | -5000 |
Income Tax Payable | -236948.89 |
Long-term Notes Payable | -600000 |
Capital Stock | -700000 |
Retained Earnings | -177453 |
Sales | -6174020 |
Sales Returns | 320280 |
Sales Discounts | 59910 |
Purchases | 0 |
Purchase Returns | 0 |
Purchase Discounts | 0 |
Cost of Goods Sold | 4205114 |
Wage & Salary Expense | 70878 |
Rent Expense | 122650 |
Utilities Expense | 72820 |
Office Supplies Expense | 35800 |
Payroll Tax Expense | 27135.25 |
Depreciation | 11750 |
Bad Debt Expense | 57938.3 |
Interest Expense | 5000 |
Provision for Income Tax | 236948.89 |
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