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Ratio proficiency McDougal Printing, Inc., had sales totaling $41,000,000 in fiscal year 2019. Some ratios for the company are listed below. Use this information to
Ratio proficiency McDougal Printing, Inc., had sales totaling $41,000,000 in fiscal year 2019. Some ratios for the company are listed below. Use this information to determine the dollar values of various income statement and balance sheet accounts as requested. Assume a 365-day year. Calculate values for the following McDougal Printing, Inc. Year Ended December 31, 2019 a. Gross profits b. Cost of goods sold Sales $41.000.000 c. Operating profits Gross profit margin 84% d. Operating expenses Operating profit margin 39% e. Earnings available for common stockholders Net profit margin 7% f. Total assets Return on total assets 14.7% g. Total common stock equity Return on common equity 21% h. Accounts receivable Total asset turnover 2.1 Average collection period 57.7 days a. The gross profits are $ (Round to the nearest dollar.)
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