Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The following are the financial highlights for Amazon for the year ended December 31, 2022: Income Statement: Net Sales: $700,000 Cost of Sales: $490,000 Operating


The following are the financial highlights for Amazon for the year ended December 31, 2022:

Income Statement:

Net Sales: $700,000

Cost of Sales: $490,000

Operating Expenses: $150,000

Income Tax: $10,000

Net Income: $50,000

Balance Sheet:

Cash: $60,000

Receivables: $110,000

Inventory: $140,000

Plant and Equipment: $290,000

Current Liabilities: $140,000

Long-term Debt: $180,000

Equity: $280,000

Determine the gross profit margin.

Calculate the debt-to-equity ratio.

Compute the return on assets (ROA).

Find the quick ratio.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

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

More Books

Students also viewed these Accounting questions