The writer is very fast, professional and responded to the review request fast also. Thank you.
$500,000
Income Statement For the Year Ended December 31, 20X3
Net sales ………………………………………………………………………………………………….. $400,000
Cost of goods sold……………………………………………………………………………………… 240,000
Gross profit………………………………………………………………………………………………. 160,000
Expenses Operating expenses…………………………………………………………………………….. $42,000
Interest expense…………………………………………………………………………………. 18,000
Total expenses……………………………………………………………………………… 60,000
Income before income taxes………………………………………………………………………. 100,000
Income tax expense…………………………………………………………………………………… 30,000
Net income ………………………………………………………………………………………………. $ 70,000
Additional information: a. Cash dividends of $30,000 were declared and paid in 20X3.
b. Weighted-average number of shares of common stock outstanding during 20X3 was 30,000 shares.
c. Market value of common stock on December 31, 20X3, was $21 per share.
Instructions Compute the following ratios for Gaines Company for 20X3:
(A) Current ratio (B) Return on common stockholders’ equity (C) Price -earnings ratio (D) Acid-test ratio (e) Receivables turnover
I need answers all A-E
Thank you!
Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.
You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.
Read moreEach paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.
Read moreThanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.
Read moreYour email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.
Read moreBy sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.
Read more