Question
XYZ Enterprises has provided the following financial data for the fiscal year ended March 31, 2023: Income Statement Amount Net Sales $600,000 Cost of Goods
XYZ Enterprises has provided the following financial data for the fiscal year ended March 31, 2023:
Income Statement | Amount |
Net Sales | $600,000 |
Cost of Goods Sold | $360,000 |
Operating Expenses | $120,000 |
Interest Expense | $20,000 |
Tax Expense | $24,000 |
Balance Sheet | Amount |
Current Assets | $180,000 |
Total Assets | $420,000 |
Current Liabilities | $60,000 |
Total Liabilities | $220,000 |
Shareholders' Equity | $200,000 |
Requirements: a. Calculate the quick ratio. b. Determine the return on assets. c. Compute the gross profit margin. d. Evaluate the company's leverage with the debt ratio. e. Assess the efficiency using asset turnover ratio.
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