The following are the ledgers of XYZ Company for the year ended December 31, 2017. Net Sales 1,890,540.00 Cash 60,100.00 Cost of Goods Sold 1,058,540.00 Short-term Investments 74,000.00 Accounts Receivable Operating Expenses Interest Expense 506,000.00 107,800.00 25,000.00 Merchandise Inventory 133,000.00 Income Tax Expense 86,000.00 Machineries, net 615,300.00 Accounts Payable Income Taxes Payable Long-term Notes Payable Owner's Equity 160,000.00 43,500.00 210,000.00 576,700.00
The following are the ledgers of XYZ Company for the year ended December 31, 2017. Net Sales 1,890,540.00 Cash 60,100.00 Cost of Goods Sold 1,058,540.00 Short-term Investments 74,000.00 Accounts Receivable Operating Expenses Interest Expense 506,000.00 107,800.00 25,000.00 Merchandise Inventory 133,000.00 Income Tax Expense 86,000.00 Machineries, net 615,300.00 Accounts Payable Income Taxes Payable Long-term Notes Payable Owner's Equity 160,000.00 43,500.00 210,000.00 576,700.00
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Practice Pack
A. What is the company’s gross profit margin?
B. What is the company’s inventory turnover?
C. What is the company’s
D. What is the company’s return on asset?
E. What is the company’s net profit margin?
F. What is the company’s days receivable?
G. What is the company’s quick ratio?
![The following are the ledgers of XYZ Company for the year ended December 31, 2017.
Net Sales
1,890,540.00
Cash
60,100.00
Cost of Goods Sold
1,058,540.00
Short-term Investments
74,000.00
Accounts Receivable
Operating Expenses
Interest Expense
506,000.00
107,800.00
25,000.00
Merchandise Inventory
133,000.00
Income Tax Expense
86,000.00
Machineries, net
615,300.00
Accounts Payable
Income Taxes Payable
Long-term Notes Payable
Owner's Equity
160,000.00
43,500.00
210,000.00
576,700.00](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fa2a1f3a8-8a72-4f05-b66d-2e3840169a2c%2Fffc63578-1b75-4478-b04d-844302c7cfb5%2Fsmeqt6_processed.png&w=3840&q=75)
Transcribed Image Text:The following are the ledgers of XYZ Company for the year ended December 31, 2017.
Net Sales
1,890,540.00
Cash
60,100.00
Cost of Goods Sold
1,058,540.00
Short-term Investments
74,000.00
Accounts Receivable
Operating Expenses
Interest Expense
506,000.00
107,800.00
25,000.00
Merchandise Inventory
133,000.00
Income Tax Expense
86,000.00
Machineries, net
615,300.00
Accounts Payable
Income Taxes Payable
Long-term Notes Payable
Owner's Equity
160,000.00
43,500.00
210,000.00
576,700.00
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