Compute six ratios that measure Tomloff Corporation's ability to earn profits. The company's comparative income statement follows.
Question:
Did the company's operating performance improve or deteriorate during 2017?
Transcribed Image Text:
Tomloff Corporatlon Income Statement For the Years Ended December 31, 2017 and 2016 (amounts In thousands) 2017 178,120 $ 94,000 84,120 S 43,000 41,120 S 7,360 33,760 S 11,495 22,265 S 2016 2015 167,725 88,000 79,725 35,000 44,725 8,100 36,625 23,207 13,418 6 Sales revenues 7 Less: Cost of goods sold Gross profit 9 Less: Operating expenses 10 Operating Income 11 Less: Interest expense 12 Income before Income taxes 13 Less: Income tax expense 14 Net Income 15 16 Additional data: 17 Total assets 18 Common stockholders' equlty 19 Preferred dividends 20 Common shares outstanding during the year IS 203,000 S 110,050 S 2,660 S 26,140 179,000 77,000 192,000 S 86,000 S 2,660 S 26,140 24,000 21 in 12345n67890
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a Gross profit percentage 2017 84120 4723 2016 79725 4753 178120 167725 b Opera...View the full answer
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