Use the balance sheets provided and selected income statement information to compute various ratios: ...
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Accounting
Use the balance sheets provided and selected income statement information to compute various ratios:
Selected income statement information for Adrian Express for the year ended Dec. 31, 2021: Sales $ 19,310,000 Cost of goods sold $ 12,250,000 Net income $ 1,700,000
14. Fill in the table below for 2021
Ratio Formula Calculations Answer Current ratio Debt-to-equity ratio Inventory turnover ratio Return on assets ratio Profit margin
ADRIAN EXPRESS Balance Sheets December 31, 2021 and 2020 Assets 20212020 Current assets
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