Question
XYZ Company presents the following financial information: Total assets: $1,200,000 Total liabilities: $500,000 Shareholders' equity: $700,000 Net income: $300,000 Total revenues: $1,000,000 Total expenses: $700,000
XYZ Company presents the following financial information:
- Total assets: $1,200,000
- Total liabilities: $500,000
- Shareholders' equity: $700,000
- Net income: $300,000
- Total revenues: $1,000,000
- Total expenses: $700,000
Calculate the following: a) Current ratio b) Debt-to-equity ratio c) Return on assets d) Gross profit margin
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Survey of Accounting
Authors: Thomas Edmonds, Christopher Edmonds, Philip Olds, Frances McNair, Bor Yi Tsay
5th edition
1259631125, 978-1259631122
