Vintage Millss income statement appears as follows (amounts in thousands): Use the following ratio data to complete

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Vintage Mills€™s income statement appears as follows (amounts in thousands):

Use the following ratio data to complete Vintage Mills€™s income statement:
1. Inventory turnover is 4.70 (beginning Merchandise Inventory was $750; ending Merchandise Inventory was $710).
2. Profit margin ratio is 0.16.

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Horngrens Financial and Managerial Accounting

ISBN: 978-0133866292

5th edition

Authors: Tracie L. Nobles, Brenda L. Mattison, Ella Mae Matsumura

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Question Posted: Jun 15, 2015 07:31 AM

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Vintage Millss income statement appears as follows (amounts in thousands): Use the following ratio data to complete

Question:

VINTAGE MILLS Income Statement Year Ended December 31, 2016 Net Sales Cost of Goods Sold Selling and Administrative Expenses Interest Expense Other Expenses Income Before Income Taxes Income Tax Expense Net Income S 7,300 1,700 135 1,325

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Horngrens Financial and Managerial Accounting

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