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income statement and balance sheet data for great adventures, inc., are provided below. great adventures, inc. income statement for the year ended december 31, 2022 net sales revenues $ 180,870 interest revenue 280 expenses: cost of goods sold $ 39,300 operating expenses 61,160 depreciation expense 18,050 interest expense 8,780 income tax expense 15,300 total expenses 142,590 net income $ 38,560

Respuesta :

The income statement for the year ended December 31, 2022, is

1. Gross margin ratio :

 = (Gross margin / Net sales) 100

Gross margin = Sales - Cost of goods sold

 = $180,870 - $39300  = $141,570

Net sales = $180,870

Gross margin  = ($141,570 / $180,870) 100 = 78.2%

2. Return on Assets :

 = Operating income / Average of Total Assets

Operating income = Sales - Operating expenses

= $180,870 - ($39,300 + $61160 + $18050)

= $62,360

Average of Total Assets :

= (beginning of Assets + Ending of assets) / 2

= ($109400 + $1859,266) / 2  = $984,333

Return on Assets :

 =( $62,360 / $984,333) 100 = 6.33 %

3. Profit margin :

 = (Net income / Net sales) 100

 = ($38,560 / $180870) 100 = 21.3 %

4. Assets Turnover ratio :

Net sales / Average of Total Assets

= $180,870 / $984,333 = 0.18 Times

5. Return on equity :

Net income / Average of Total Equity

Net income = $38,560

Average of Total equity :

= (beginning of equity + Ending of equity) / 2

= ($59,690 + $1107090) / 2  = 583,390

Return in equity :

= ($38,560 / $583,390) 100  = 6.60%

Beginning of equity = $25,440 + $34,250  = $59,690

Ending of equity = $136,000 + $1049,600 + $59490 - $138,000  = $1107090

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