The following information is available for Crest Company: Annual Data 2013 2012 Sales revenue $6,600,000 $6,000,000 Cost of goods sold 4,008,400 3,720,000 Net income 310,300 264,000 Year-End Data Dec. 31, 2013 Dec. 31, 2012 Total assets $2,750,000 $2,360,000 Common stockholders' equity 1,800,800 1,800,000 Calculate the following ratios for 2013: a. Gross profit percentage b. Return on sales
The following information is available for Crest Company: Annual Data 2013 2012 Sales revenue $6,600,000 $6,000,000 Cost of goods sold 4,008,400 3,720,000 Net income 310,300 264,000 Year-End Data Dec. 31, 2013 Dec. 31, 2012 Total assets $2,750,000 $2,360,000 Common stockholders' equity 1,800,800 1,800,000 Calculate the following ratios for 2013: a. Gross profit percentage b. Return on sales
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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The following information is available for Crest Company:
Annual Data 2013 2012
Sales revenue $6,600,000 $6,000,000
Cost of goods sold 4,008,400 3,720,000
Net income 310,300 264,000
Year-End Data Dec. 31, 2013 Dec. 31, 2012
Total assets $2,750,000 $2,360,000
Common
Calculate the following ratios for 2013:
a. Gross profit percentage
b. Return on sales
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