Question
PQR Corporation, an international retail chain, has the following financial information for the year ended December 31, 2023: Total Sales: $15,000,000 Cost of Goods Sold:
PQR Corporation, an international retail chain, has the following financial information for the year ended December 31, 2023:
Total Sales: $15,000,000
Cost of Goods Sold: $9,000,000
Operating Expenses: $3,500,000
Depreciation Expense: $500,000
Interest Expense: $200,000
Income Tax Expense: $400,000
Accounts Receivable: $1,000,000
Accounts Payable: $800,000
Total Current Assets: $4,000,000
Total Current Liabilities: $1,500,000
Requirements:
Prepare a detailed income statement for PQR Corporation for the year ended December 31, 2023.
Calculate the operating profit margin.
Determine the net income.
Compute the current ratio.
Calculate the return on assets (ROA).
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