Following are the financial statements of the company. Sales Less COGS Gross Margin Categories Less Expenses Net

Following are the financial statements of the company.
   

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Sales Less COGS Gross Margin Categories Less Expenses Net Income Current Assets Cash. Inventory Accts Rec. Other Income Statement (1/1/11 - 12/31/11) Dollars Sub-Total - Current Assets Long Term Assets Total Assets Current Liabilities Accts Payable Other Sub-Total Long Term Liabilities Total Liabilities $ Total Equity Total Liabilities and Equity $ Balance Sheet (12/31/11) $ sssssssss $ $ $ $ sss $ $ 40,000,000 $ $ $ 7,500,000 1,750,000 12/31/2011 2,000,000 4,000,000 4,100,000 150,000 10,250,000 12/31/2011 3,300,000 700,000 4,000,000 2,500,000 6,500,000 $ 50,000,000 $ 10,000,000 5,500,000 $ 2,500,000 $ 12,000,000 $ 12,000,000 Sales Less COGS Gross Margin Categories Less Expenses Net Income Current Assets Cash. Inventory Accts Rec. Other Income Statement (1/1/11 - 12/31/11) Dollars Sub-Total - Current Assets Long Term Assets Total Assets Current Liabilities Accts Payable Other Sub-Total Long Term Liabilities Total Liabilities $ Total Equity Total Liabilities and Equity $ Balance Sheet (12/31/11) $ sssssssss $ $ $ $ sss $ $ 40,000,000 $ $ $ 7,500,000 1,750,000 12/31/2011 2,000,000 4,000,000 4,100,000 150,000 10,250,000 12/31/2011 3,300,000 700,000 4,000,000 2,500,000 6,500,000 $ 50,000,000 $ 10,000,000 5,500,000 $ 2,500,000 $ 12,000,000 $ 12,000,000

Answer rating: 100% (QA)

1 The gross margin percentage is 40 Gross margin 500000 Sales 1250000 Gross margi... View the full answer