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The following ratios have been computed for Martinez Company for 2022. Use the above ratios and information from the Martinez Company financial statements to fill
The following ratios have been computed for Martinez Company for 2022. Use the above ratios and information from the Martinez Company financial statements to fill in the missing information on the financial statements. The 2022 financial statements for Martinez Company with missing information follows: MARTINEZ COMPANY Income Statement For the Year Ended December 31, 2022 Net sales Cost of goods sold Gross profit $260,000130,000130,000 Expenses: Depreciation expense $ Interest expense Selling expenses 13,000 Administrative expenses 19,500 Total expenses Income before income taxes Income tax expense Net income
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