Prior Year Current Year Accounts payable Accounts receivable 320,715 397,400 Accruals 40,500 33,750 Additional paid in capital 500,000 541,650 Cash 17,500 47,500 Common Stock 94,000 105,000 COGS 328,500 430,380 00 Current portion long term debt 33,750 35,000 Depreciation expense 54,000 54,221 00 Interest expense 40,500 42,028 00 Inventories 279,000 288,000 Long term debt 335,365 00 400,331 00 Net fixed assets 946,535 999,000 Notes payable 148,500 162,000 Operating expenses (excl depr ) 126,000 161,395 00 Retained earnings 306,000 342,000 Sales 639,000 852,776 00 Taxes 24,750 48,765 00 What is the firm's current year gross profit margin What is the entry for the current year's interest expense on a common sized income statement What is the entry for the current year's taxes on a common sized income statement What is the current year's accounts payable balance What is the current year's return on assets (ROA) What is the current year's return on equity (ROE) What is the current year's entry for long term debt on a common sized balance sheet Submit Answer format Percentage Round to 2 decimal places (Example 9 24 , sign required Will accept decimal format rounded to 4 decimal places (ex 0 0924))

The Answer is in the image, click to view ...

Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Sep 17, 2024

Prior Year Current Year Accounts payable ??? ??? Accounts receivable 320,715 397,400 Accruals 40,500 33,750 Additional paid in capital 500,000 541,650 Cash 17,500 47,500 Common

Prior Year	Current Year
Accounts payable	???	???
Accounts receivable	320,715	397,400
Accruals	40,500	33,750
Additional paid in capital	500,000	541,650
Cash	17,500	47,500
Common Stock	94,000	105,000
COGS	328,500	430,380.00
Current portion long-term debt	33,750	35,000
Depreciation expense	54,000	54,221.00
Interest expense	40,500	42,028.00
Inventories	279,000	288,000
Long-term debt	335,365.00	400,331.00
Net fixed assets	946,535	999,000
Notes payable	148,500	162,000
Operating expenses (excl. depr.)	126,000	161,395.00
Retained earnings	306,000	342,000
Sales	639,000	852,776.00
Taxes	24,750	48,765.00

What is the firm's current year gross profit margin?

What is the entry for the current year's interest expense on a common-sized income statement?

What is the entry for the current year's taxes on a common-sized income statement?

What is the current year's accounts payable balance?

What is the current year's return on assets (ROA)?

What is the current year's return on equity (ROE)?

What is the current year's entry for long-term debt on a common-sized balance sheet?

Submit

Answer format: Percentage Round to: 2 decimal places (Example: 9.24%, % sign required. Will accept decimal format rounded to 4 decimal places (ex: 0.0924))