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  3. calculate the gross profit margin given the follow

Calculate the Gross Profit Margin given the following data: XYZ Company Income...

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Question

Accounting

Calculate the Gross Profit Margin given the following data:
XYZ Company
Income Statement
For the Year Ended December 31,2023
XYZ Company
Balance Sheet
As of December 31,2023
Assets
Revenue
$550,000
Cash
$75,000
Cost of Goods Sold (COGS)
$210,000
Accounts Receivable
$80,000
Gross Profit
$340,000
Inventory
$120,000
Total Current Assets
$275,000
Operating Expenses:
Property, Plant, & Equipment
$255,000
Selling and Admin Expense
$90,000
Total Assets
$530,000
Depreciation Expense
$25,000
Total Operating Expenses
$115,000
Liabilities
Accounts Payable
$75,000
Operating Income
$225,000
Short-Term Loans Payable
$35,000
Total Current Liabilities
$110,000
Interest Expense
$30,000
Long-Term Accounts Payable
$190,000
Income Before Taxes
$150,000
Total Liabilities
$300,000
Net Income
$100,000
Shareholders Equity
Common Stock
$80,000
Retained Earnings
$150,000
Total Shareholders Equity
$230,000
Total Liabilities & Shareholders Equity
$530,000
Question 3Answer
a.
2.5
b.
0.62
c.
0.29
d.
0.75

Answer & Explanation Solved by verified expert
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