Chapter 5, Problem 14E

Gordon Company was recently formed with a $7,000 investment in the company by shareholders. The company then borrowed $4,000 from a bank, purchased $3,000 of supplies on account, and also purchased $7,000 of equipment by paying $4,000 in cash and signing a note for the balance. Based on these transactions, the company's total assets are:

Radiant Motors has sales of $5,250, total assets of $3,900, and a profit margin of 6 percent. The firm has a total debt ratio of 48 percent. What is the return on equity?help

Compute the Cost of Goods Sold considering the following information from Kelly's Kandles. Sales Selling Expenses $133,200 13,500 General and Administrative Expenses 16,100 Net income before tax Net income 49,700 40,100