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Please solve the following blanks and explain how you came to the conclusion by showing your math. I posted this problem on this platform once
Please solve the following blanks and explain how you came to the conclusion by showing your math. I posted this problem on this platform once before, and every answer turned out to be wrong when I checked the work. Please help.
! Required information Problem 12-6A (Algo) Use ratios to analyze risk and profitability (LO12-3, 12-4) [The following information applies to the questions displayed below.] Income statements and balance sheets data for Virtual Gaming Systems are provided below. VIRTUAL GAMING SYSTEMS Income Statements For the Years Ended December 311 Net sales Cost of goods sold Gross profit Expenses: Operating expenses Depreciation expense Loss on sale of land Interest expense Income tax expense Total expenses: Net income Assets Current assets: 2025 $3,530,000 2024 $3,056,000 2,484,000 1,954,000 1,046,000 1,102,000 959,000 862,000 34,000 29,000 e 8,400 20,000 17,000 8,400 50,000 1,021,400 966,400 135,600 24,600 VIRTUAL GAMING SYSTEMS Balance Sheets December 31 2025 2024 2023
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