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  3. homework 2 o cotb mc qu. 16.42 (algo) assume... 10

Homework 2 O COTB MC Qu. 16.42 (Algo) Assume... 10 08 Assume a corporation provided...

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Accounting

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Homework 2 O COTB MC Qu. 16.42 (Algo) Assume... 10 08 Assume a corporation provided the following excerpts from its balance sheet and income statement as shown below Ending Beginning Balance Balance Current assets $ 120,000 $ 140,000 Total assets $ 480,000 $ 380,000 Current liabilities $ 30,000 $. 70,000 Total liabilities $ 174,600 $ 174,000 Total stockholders' equity $ 305,400 $ 206,000 . rences Sales Cost of goods sold Gross margin Selling and administrative expenses Net operating income Interest expense Net income before taxes Income taxes Net income $ 1,000,000 600,000 488,000 258,000 150,000 8,000 142,800 42,660 $ 99,400 In a common size income statement, the percentage that would accompany interest expense would be closest to Multiple Choice 10 Net income before taxes Income taxes Net income 142,00 42,600 $ 99,400 08 In a common size income statement, the percentage that would accompany rest expense would be closest to Multiple Choice Bool Bufwences oiso 6.55% o BOSE 180X

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