Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. hi, can you helo me with calculatingthe followi

hi, can you helo me with Calculatingthe following ratios for Year 2:...

50.1K

Verified Solution

Question

Accounting

hi, can you helo me with Calculatingthe
following ratios for Year 2:
(a) profit margin ratio
(b) gross margin ratio
(c) times interest earned.
Silverlight Company
Income Statements
For Years Ended December 31,
Year 2 Year 1
Net sales $ 720,000 $ 607,500
Cost of goods sold 450,000382,700
Gross profit $ 270,000 $ 224,800
Operating expense 168,500134,900
Income from operations $ 101,500 $ 89,900
Interest expense 22,30011,200
Income before taxes $ 79,200 $ 78,700
Income taxes 28,00027,000
Net income $ 51,200 $ 51,700

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Biology
1.2K views

1. You just has a bunch on twinkies for breakfast. Initially, you feel pretty good, but...

Geometry
1.2K views

Product Type Vanilla Chocolate Total A 0 250 B 0 435 C 0 526 D...

Basic Math
1.2K views

script 3 A researcher is interested in studying the difference in the proportion of Penn...

Calculus
1.2K views

18 5 10 5 ch 10 Given the graph of f x above find the...

Calculus
1.2K views

Suppose that you earned a bachelor s degree and now you re teaching high school...

Algebra
1.2K views

3 Is a linear combination of a and a Let B 1 2 1 Yes...

Algebra
1.2K views

4 Find 2 different values that would go in the blanks to make a factorable...

Accounting
1.2K views

On January 15,2020, Dolan Corp. adopted a plan to accumulate funds for environmental improvements beginning...

Accounting
1.2K views

Troy Engines, Ltd., manufactures a variety of engines for use in heavy equipment. The company...

Accounting
1.2K views

pls really need help asap IAS 38 Intangible assets outlines the recognition criteria for an...

Accounting
1.2K views

XYZ company paid a dividend of 1.50 today. It expects dividend payments to increase by...

Finance
1.2K views

Mrs. Merton has decided to set up a pie making business. To set herself up...