15 01.11.07 Refer to the following selected financial information from Gomez Electronics. Compute the company's profit margin for Year 2. Net sales Cost of goods sold Interest expense Net income before tax Net income after tax Total assets Total liabilities. Total equity Year 2 $ 485,000 277,600 11,000 68,550 47,350 319,700 174,900 144,800 Year 1 $ 427,550 251,420 12,000 53,980 41,200 295,800 168,600 127,200.

15 01.11.07 Refer to the following selected financial information from Gomez Electronics. Compute the company's profit margin for Year 2. Net sales Cost of goods sold Interest expense Net income before tax Net income after tax Total assets Total liabilities. Total equity Year 2 $ 485,000 277,600 11,000 68,550 47,350 319,700 174,900 144,800 Year 1 $ 427,550 251,420 12,000 53,980 41,200 295,800 168,600 127,200.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Refer to the following selected financial information from Gomez Electronics. Compute the company's debt-to-equity ratio for Year 2. Net sales Cost of goods sold Interest expense Net income before tax Net income after tax Total assets Total liabilities Total equity Year 2 $ 479,500 276,500 9,900 67,450 46,250 317,500 180,400 137,100 Year 1 $426,450 250,320 10,900 52,880 40,100 289, 200 167,500 121,700