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Total Sales----360,000 Salaries wages----40,000 Rent Utilities Expense------28,000 Interest Expense------7,500 Taxes---4,500 Gross Profit Margin ---58.33% Net Profit Margin---36.11% Debt to assets ratio---0.35 Return to Equity =40% Return on asset—0.26 Average Receivable Turnover=9.4736 Inventory Turnover = 3.6 times Fixed asset Turnover=1.2 1. Complete the Income statement of Dels Merchandising 2. Create balance sheet of Dels Merchandising Company for august 2022 3. Solve EBIT

Total Sales----360,000 Salaries wages----40,000 Rent Utilities Expense------28,000 Interest Expense------7,500 Taxes---4,500 Gross Profit Margin ---58.33% Net Profit Margin---36.11% Debt to assets ratio---0.35 Return to Equity =40% Return on asset—0.26 Average Receivable Turnover=9.4736 Inventory Turnover = 3.6 times Fixed asset Turnover=1.2 1. Complete the Income statement of Dels Merchandising 2. Create balance sheet of Dels Merchandising Company for august 2022 3. Solve EBIT

FINANCIAL ACCOUNTING
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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Total Sales----360,000 Salaries wages----40,000 Rent Utilities Expense------28,000 Interest Expense------7,500 Taxes---4,500 Gross Profit Margin ---58.33% Net Profit Margin---36.11% Debt to assets ratio---0.35 Return to Equity =40% Return on asset—0.26 Average Receivable Turnover=9.4736 Inventory Turnover = 3.6 times Fixed asset Turnover=1.2 1. Complete the Income statement of Dels Merchandising 2. Create balance sheet of Dels Merchandising Company for august 2022 3. Solve EBIT
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