Ratio Proficiency

Ratio proficiency McDougal Printing, Inc., had sales totaling $40,000,000 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 Sales $40,000,000 b. Cost of goods sold 77% c. Operating profits Gross profit margin 31% d. Operating expenses Operating profit margin e. Earnings available for common stockholders Net profit margin 5% f. Total assets Return on total assets 10.5% g. Total common stock equity Return on common equity 24% h. Accounts receivable Total asset turnover 2.1 Average collection period 50.6 days a. The gross profits are si (Round to the nearest doltar)