1
answer
0
watching
168
views
blackmole202Lv1
28 Sep 2019
Canadian Bacon Inc. financial statements are presented in the table below.
Based on the information in the table, calculate the firmâs the operating profit margin.
Round the answers to two decimal places in percentage form.
Balance Sheet December 31, 2013
Cash and marketable securities $112,000 Accounts payable $211,000 Accounts receivable $325,000 Notes payable $51,500 Inventories $426,000 Accrued expenses $50,100 Prepaid expenses $10,700 Total current liabilities $312,600 Total current assets $873,700 Long-term debt $225,000 Gross fixed assets $1,514,000 Par value and paid-in-capital $117,000 Less: accumulated depreciation $315,000 Retained Earnings $1,418,100 Net fixed assets $1,199,000 Common Equity 1,535,100 Total assets $2,072,700 Total liabilities and ownerâs equity $2,072,700
Income Statement, Year of 2013
Net sales (all credit) $3,256,600.00 Less: Cost of goods sold $2,572,714.00 Selling and administrative expenses $323,000.00 Depreciation expense $115,000.00 EBIT $245,886.00 Interest expense $29,600.00 Earnings before taxes $216,286.00 Income taxes $86,514.40 Net income $129,771.60
Canadian Bacon Inc. financial statements are presented in the table below.
Based on the information in the table, calculate the firmâs the operating profit margin.
Round the answers to two decimal places in percentage form.
Balance Sheet December 31, 2013
Cash and marketable securities | $112,000 | Accounts payable | $211,000 |
Accounts receivable | $325,000 | Notes payable | $51,500 |
Inventories | $426,000 | Accrued expenses | $50,100 |
Prepaid expenses | $10,700 | Total current liabilities | $312,600 |
Total current assets | $873,700 | Long-term debt | $225,000 |
Gross fixed assets | $1,514,000 | Par value and paid-in-capital | $117,000 |
Less: accumulated depreciation | $315,000 | Retained Earnings | $1,418,100 |
Net fixed assets | $1,199,000 | Common Equity | 1,535,100 |
Total assets | $2,072,700 | Total liabilities and ownerâs equity | $2,072,700 |
Income Statement, Year of 2013
Net sales (all credit) | $3,256,600.00 |
Less: Cost of goods sold | $2,572,714.00 |
Selling and administrative expenses | $323,000.00 |
Depreciation expense | $115,000.00 |
EBIT | $245,886.00 |
Interest expense | $29,600.00 |
Earnings before taxes | $216,286.00 |
Income taxes | $86,514.40 |
Net income | $129,771.60 |
Keith LeannonLv2
30 Sep 2019