Please answer asap. I really need help M9Rainbow TradingIncome StatementFor the Years Ended December 31by degmo sa to gwarNet SalesCost of Goods SoldGross ProfitSelling and Administrative ExpensesOperating IncomeInterest ExpenseIncome before income taxesIncome Tax ExpenseNet incomevervidevat nivousaffie gminimastab ni lutsau al 2011Required: Compute the following ratios for 2019:4. Average Collection Period5. Inventory Turnover2019P1,716,0001,026,0009. Equity Ratio10. Debt to Equity Ratio11. Times Interest Earned12. Gross Profit Ratio13. Operating Profit Margin14. Net Profit Margin15. Return on Assetsbang16. Return on Equity17. Fixed Asset Turnover18. Total Asset Turnoversolod) elqitisM J2018P1,606,0001,018,000P 588,000474,000P114,00019Sesideynq690,000488,000 bing d202,000931SVA S40,000P 162,00066,000 d ritol s96,000gniwollel od to binWSinemogensmval.sboirs oitello d21922A no mutd&stod b3d io86. Average Sales Period7. Working Capitaloonsvioz & Jon ai gniwollot edito doidWE8.Debt Ratioolts ide0 .ois viiup d28,000P 86,00034,000P 52,000Sobal ytimpal of 1stboric testsinl 29miT bovods or to eno 3Let's Have Exercises Exercise 7trometer2 moonl1Eodinaosa baba3 2169Y 9 20Presented below are the financial statements of Rainbow Trading.8105600,000 9000,0VE000,0ES 9000 40Assetsdar &Current Assetseros000,015 Rainbow Trading0(Statement of Financial Position000,085 As of December 31ber 31000,58Prepaid Expenses000 Ber000,00000,881 9000,a000,SOITCashTrade Receivables000 SOMerchandise InventoryTotal Current AssetsProperty, Plant, and Equipment (net)Total AssetsLiabilities and Owner's EquityCurrent LiabilitiesTrade PayablesNon-Current LiabilitiesLoan PayableTotal LiabilitiesOwner's EquityTotal Liabilities and Owner's Equityblo2 abood to101429209qxl svits dainiml A bass20192018925q3 125258,000x19moor 10 64,000170,000222,00016,000ni472,000816,000osoiu P1,288,000920190x2228,000226,00012,000sannol ar stugo524,0001,050,000 INSTI1,574,000TOVOUT sidevis09 EPbons noitello sgrievA A19Osval 2boi799 29162 99619VÁ O284,000 so gubhowoids578,000A ywp3862,000 p3 of tds P712,000 stal 29mIT252,0008396,000648,000640,0001,574,000 019 2201 1,288,000nigs or gnius19q0 ElnigtsM 1019 19MM21922A no mus 21vived an muted al

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Description: Please answer asap. I really need help M9Rainbow TradingIncome StatementFor the Years Ended December 31by degmo sa to gwarNet SalesCost of Goods SoldGross ProfitSelling and Administrative ExpensesOperating IncomeInterest ExpenseIncome before income t

"Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for…

Answered: 4. Average Collection Period 5.…

Business

Accounting

4. Average Collection Period 5. Inventory Turnover 6. Average Sales Period de 32

Financial & Managerial Accounting

13th Edition

ISBN:9781285866307

Author:Carl Warren, James M. Reeve, Jonathan Duchac

Publisher:Carl Warren, James M. Reeve, Jonathan Duchac

Chapter10: Current Liabilities And Payroll

Section: Chapter Questions

Problem 10.23EX

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