What is your firm net income

Assignment Help Financial Accounting
Reference no: EM132831649

Question - Your firm has a current ratio of 2.5 and a quick ratio of 1.5 with current assets of $250,000 and an inventory turnover ratio of 12. If cost of goods sold run 55% of sales for your firm and your profit margin is 6%, what is your firm's net income?

Reference no: EM132831649

Questions Cloud

How much transaction price to allocate to each performance : Ginger Ltd is marketing a 'surfing bundle' in which, for $2200, How much of the transaction price to allocate to each performance obligation
Explain how individuals can make healthier choices : Explain how individuals can make healthier choices if they choose to eat at fast food outlets. Where are the "hidden calories" in typical fast food menus?
Determine the equity component of the bonds upon issuance : On January 1, 2021, Redman Co. issued P10,000,000, 10%, 10-year convertible bonds at 102. Determine the equity component of the bonds upon issuance
Introduction of new drone company : You just created a new start-up company called Universal Drones Inc., because you want to compete in the growing industry of drone navigation systems.
What is your firm net income : Your firm has a current ratio of 2.5 and a quick ratio of 1.5 with current assets of $250,000. What is your firm net income
Changing budget and discretion-abuse-control cycle : Describe budget execution, implementation, and control, including the tools for changing the budget and the discretion-abuse-control cycle.
How individuals perceive the cause of feminism : Do you think celebrities or politicians influence how individuals perceive the cause of feminism? Why or why not?
Why are actions in walmart violations of ethical behaviors : 1). What are two known unethical business actions that occurred in Walmart from 2015 to present?
Make the entry to record bad debt expense for the period : Uncollectible accounts are expected to be 9% of the ending balance in accounts receivable. Make the entry to record bad debt expense for the period

Reviews

Write a Review

Financial Accounting Questions & Answers

  What nominal quarterly rate would be equivalent to the rate

Queeny Inc can borrow from its bank for one month. What nominal quarterly rate would be equivalent to the rate charged by the bank

  Calculate the disbursement float

ABC Corp. writes checks totaling P30,000. These checks clear in 7 days. Simultaneously, the firm receives P17,000. Calculate the disbursement float

  One asset during its calendar taxable year

Firm L purchased only one asset during its calendar taxable year. The asset cost $650,000 and has a three-year recovery period. Compute Firm L’s MACRS depreciation with respect to this asset over the recovery period assuming that:

  Define and explain the meaning of control

Define and explain the meaning of 'control' in the context of business combinations and explain the importance of determining the acquirer and acquisition date in accounting for business combinations

  What is the companys net income

Recreational Supplies Co. has net sales of $9,359,409, an ROE of 15.60 percent, and a total asset turnover of 3.48 times. If the firm has a debt-to-equity ratio of 1.23, what is the company s net income?

  Identify what is not a demographic variable

Identify what is NOT a demographic variable? What are the 4 P's of the marketing mix? Identify the "variable cost" in the following chocies.

  What particular item of financial or operating data appears

What particular item of financial or operating data appears on both the income statement and the statement of owner's equity? What item appears

  Identify castners value-added production activities

Identify Castner’s value-added production activities. Identify Castner’s non-value-added production activities. Calculate Castner’s total cycle time. Determine Castner’s manufacturing efficiency ratio.

  What is the capital balance of deo after the admission

What is the capital balance of Deo after his admission? The total capital of the partnership is to be P2,400,000, of which Deo's interest is to be 25%.

  What is the present value of an ordinary annuity

What is The present value of an ordinary annuity of? $1 for 20 periods at 3?% is 14.878m(Round your final answer to the nearest? dollar.)

  Mauve inc has the subsequent for 2011 2012 and 2013 and no

mauve inc has the subsequent for 2011 2012 and 2013 and no prior ace adjustments pre adjusted amti 12000 15000 8000

  What amount of depreciation expense should sunrise record

The van is estimated to have a 5-year useful life and a $15,000 salvage value. What amount of depreciation expense should Sunrise record for 2022

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd