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The Alondria Williams Company began operations in 2023. Its comparative income statements and balance sheets follow. Use a formula to calculate the ratios below.
The Alondria Williams Company began operations in 2023. Its comparative income statements and balance sheets follow. Use a formula to calculate the ratios below. The AVERAGE formula must be used in any ratios using average accounts receivable, average inventory or average total assets. Alondria Williams Company Comparative Income Statements For Years Ended December 31, 2026-2023 2026 2025 Net sales Cost of goods sold Gross margin $180,000 $160,000 2024 $140,000 2023 $100,000 118,000 96,000 86,000 72,000 62,000 64,000 54,000 28,000 Operating expenses Net income 18,000 18,000 18,000 16,000 $44,000 $46,000 $36,000 $12,000
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