Question
The financial statements of MediaCorp for the year ended December 31, 2023, are presented below: Income Statement Amount Sales $1,300,000 Cost of Sales $780,000 Operating
The financial statements of MediaCorp for the year ended December 31, 2023, are presented below:
Income Statement | Amount |
Sales | $1,300,000 |
Cost of Sales | $780,000 |
Operating Expenses | $350,000 |
Net Income | $120,000 |
Balance Sheet | Amount |
Current Assets | $260,000 |
Total Assets | $620,000 |
Current Liabilities | $120,000 |
Long-term Debt | $200,000 |
Shareholders' Equity | $300,000 |
Requirements: a. Compute the return on assets. b. Calculate the operating profit margin. c. Determine the current ratio. d. Evaluate the debt to equity ratio. e. Analyze the company's asset turnover ratio.
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Accounting Volume 1
Authors: Charles T. Horngren, Walter T. Harrison, Jo Ann L. Johnston, Carol A. Meissner, Peter R. Norwood
9th Canadian edition
978-013309863, 9780133128338, 013309863X, 133128334, 978-0132690096
