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The table below presents income statement data and some assorted financial ratios for three different clothing store companies: RedRock LLC, Explorer LLC, and GForce LLC.
The table below presents income statement data and some assorted financial ratios for three different clothing store companies: RedRock LLC, Explorer LLC, and GForce LLC. Using this data, what did Explorer LLC report as Total Equity on its income statement (rounded, if necessary, to the nearest dollar)? All income statement figures are in dollars Financial Statement Account RedRock LLC Explorer LLC GForce LLC Depreciation 47,300 8,100 12,900 Gross sales 684,000 318,000 976,000 Operating expenses 45,400 62,000 110,000 Returns and allowances 13,000 8,000 62,000 Taxes 4,850 12,860 38,760 Assorted Financial Ratios Gross profit margin 30% 35% 26% Current ratio 1.8 1.2 3.3 Times interest earned ratio 1.6 2.5 4.2 Return on equity 14.4% 5.8% 24.7% Debt ratio 48.6% 33.2% 78.8% ( 1) $73,313 (2) None of the amounts in this list are within $100 of the correct answer. ( 3) $57,169
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