The comparative income statements for Silverlight Company are shown below. Calculate the following ratios for 2018:...
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The comparative income statements for Silverlight Company are shown below. Calculate the following ratios for 2018: (a) profit margin (b) gross margin (c) times interest earned. Silverlight CompanyIncome StatementsFor Years Ended December 31, 2017 $607,500 382,700 $224,800 134,900 $101.500 $ 89.900 2018 $720,000 450,000 $270,000 Net sales Cost of goods sold Gross profit Operating expense Income from operations Interest expense Income before taxes Income taxes Net income 168,500 22,300 $ 79,200 11.200 $ 78,700 28,000 27,000 $ 51,200 $ 51.700 The comparative income statements for Silverlight Company are shown below. Calculate the following ratios for 2018: (a) profit margin (b) gross margin (c) times interest earned. Silverlight CompanyIncome StatementsFor Years Ended December 31, 2017 $607,500 382,700 $224,800 134,900 $101.500 $ 89.900 2018 $720,000 450,000 $270,000 Net sales Cost of goods sold Gross profit Operating expense Income from operations Interest expense Income before taxes Income taxes Net income 168,500 22,300 $ 79,200 11.200 $ 78,700 28,000 27,000 $ 51,200 $ 51.700
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Related Book For
Intermediate Accounting IFRS
ISBN: 978-1119372936
3rd edition
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield
Posted Date:
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