ABC Inc. has the following data for the year ended December 31, 2022: Particulars Amount ($) Sales
Fantastic news! We've Found the answer you've been seeking!
Question:
ABC Inc. has the following data for the year ended December 31, 2022:
| Particulars | Amount ($) |
|---|---|
| Sales | $400,000 |
| Cost of Goods Sold | $220,000 |
| Gross Profit | $180,000 |
| Operating Expenses | $75,000 |
| Net Income | $105,000 |
| Total Assets | $350,000 |
| Total Liabilities | $75,000 |
| Equity | $275,000 |
a) Calculate the gross profit margin and operating profit margin for the year. b) Calculate the return on assets and return on equity for the year.
Expert Answer:
The detailed answer for the above question is provided below a The gross profit margin is the ratio ... View the full answer
Related Book For 
Posted Date:
