What percentage of the companys sales end up as net income

Assignment Help Accounting Basics

Reference no: EM133527491

Problem

The company for this assignment is Mcdonalds CORP.

1. Write the company's accounting equation as of the filing date, by filling in the dollar amounts: Assets = Liabilities + Equity

2. How much in cash (including cash equivalents) did the company have as of the filing date?

3. According to the Income Statement.

a. What was the company's net income (or loss) for the year of the filing?

b. Compare the current year net income (or loss) to the previous year. Was it better or worse?

4. What income statement format does the company use? Explain.

5. Does the company have inventory? If so, what was the value of the company's inventory as of the year of filing?

6. Did the company report cost of goods sold (or cost of sales)? If so, was the amount of cost of goods sold for the year of filing?

7. What percentage of the company's sales end up as net income?

8. What percentage of the company's sales go to pay for cost of the goods being sold?

Reference no: EM133527491

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