Accounts payable 10,370.00 31,100.00 Common stock 75,000.00 69,000.00 Retained earnings 25,130.00 20,000.00 Total 110,500.00 120,100.00
MBF 1213- Managerial Accounting
Limkokwing University of Creative Technology Post Graduate Centre
Page 2 of 3 The 2018 income statement included net sales of $120 000.00, cost of goods sold of $70 000.00 and net income of $14 000.00 Establish the following ratios for 2018: ai) Current ratio iii) Acid- Test ratio iv) Accounts receivables Turnover v) Inventory turnover vi) Profit margin vii) Return on stockholders equity
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