Income Statements For the Years Ended December 31 Current Previous Net Sales $100,000 100% $75,000...
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Income Statements For the Years Ended December 31 Current Previous Net Sales $100,000 100% $75,000 100% Cost of Goods Sold 58,000 58.0 45,000 60.0 Gross Profit 42,000 42.0 30,000 40.0 Selling, General, and Administrative Expenses 9,000 9.0 4,500 Income from Operations 33,000 33.0 25,500 34.0 Interest Expense 3,000 3.0 3,750 5.0 Income before Income Tax 30,000 30.0 21,750 29.0 Income Tax Expense 9,000 9.0 6,525 8.7 Net Income $ 21,000 21.0% $15, 225 20.3% 6.0 a. Which ratios have been included in the above calculations? (Select all that apply.) Net Profit Margin Return on Equity Gross Profit Percentage Price/Earnings Ratio JOOOOO Current Ratio Times Interest Earned Ratio Profibility Ratio b. Have these ratios improved or deteriorated in the current year compared to the previous year? Improved Deteriorated
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