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What was the gross margin for Halal Cosmetics as at Dec 31,2015 ? Formulae for Financial Ratio Analysis - Current Ratio = Current Asset / Current Liabilities - Quick Ratio = Quick Assets / Current Llabilities - Working Capital = Current Asset - Current Liabilities - Gross Profit Margin (Expressed as \%) = Gross Sales / Sales - Profit Margin (Expressed as \%) = Net Income / Sales - Average Collection Period (\# Days) = (Accounts Receivables * 365) / Credit Sales - Average Inventory Period (\# Days) = (Average Inventory * 365) / Cost of Goods Sold - Average Inventory =( Beginning inventory + Ending Inventory )/2 - Debt to Equity = Total Liabilities / Shareholders' Equity HALAL COSMETICS LTD BALANCE SHEET AS AT DEC 31, 2015 Note 1: A charge card, unlike a credit card, must be paid in full each month. HALAL COSMETICS LTD INCOME STATEMENT AS AT DEC 31, 2015 Before income tax $200,00023.6%$350,00041.7%