Business, 24.11.2019 23:31, jc95704816
From the balance sheet and income statement information below calculate the following ratios:
a. return on sales
b. current ratio
c. inventory turnover - if they are no beginning inventory or ending inventory figures then use the merchandise inventory figure
abc inc.
income statement
year ended december 31, 2018
net sales revenue
$20,941
cost of goods sold
7,055
gross profit
13,886
operating expenses
7,065
operating income
6,821
interest expense
210
income before taxes
6,611
income tax expense
2,563
net income
$4,048
abc inc.
balance sheet
december 31, 2018
assets
current assets:
cash
$2,450
accounts receivable
1,813
merchandise inventory
1,324
prepaid expenses
1,709
total current assets
7,296
long-term assets
18,500
total assets
$25,796
liabilities
current liabilities
$7,320
long-term liabilities
4,798
total liabilities
12,028
stockholdersâ equity
common stock
6,568
retained earnings
7,200
total stockholdersâ equity
13,768
total liabilities & stockholdersâ equity
$25,796
notes: 1.round up
2. your responses should be in the following formats
a. xx%
b. x. xx
c. x. xx
Answers: 1
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From the balance sheet and income statement information below calculate the following ratios:
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