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Question #3 (2+2) Aish n Aayma's income statement appears as follows amounts in thousands) at 31st Dec. 2018: Aish n Aayma's Income Statement Net Sales
Question #3 (2+2) Aish n Aayma's income statement appears as follows amounts in thousands) at 31st Dec. 2018: Aish n Aayma's Income Statement Net Sales Revenue $6,900 Cost of Goods Sold Selling and Admin Expenses 1,710 Interest Expense Other Expenses 120 Income before Income Taxes 1,150 Income Tax Expense Net Income Use the following ratio data to complete Aish n Aayma's income statement and show your calculations properly. 1. Inventory turnover is 3.70 (beginning Merchandise Inventory was $810; ending Merchandise Inventory was $770). 2. Profit margin ratio is 14%
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