Selected data from the year end financial statements of Sister Corporation are presented below : ( The difference between average and ending inventories is immaterial). Current ratio 3 Quick ratio 2.5 Current liabilities P400,000 Inventory turnover 10X Gross Profit margin is 40% Sister’s net sales for the year were : a. P 2.00 million c. P 5.0 million b. 20 million d. 3.3 million
Selected data from the year end financial statements of Sister Corporation are presented below : ( The difference between average and ending inventories is immaterial). Current ratio 3 Quick ratio 2.5 Current liabilities P400,000 Inventory turnover 10X Gross Profit margin is 40% Sister’s net sales for the year were : a. P 2.00 million c. P 5.0 million b. 20 million d. 3.3 million
Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Chapter15: Financial Statement Analysis
Section: Chapter Questions
Problem 56P: The following selected information is taken from the financial statements of Arnn Company for its...
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- Selected data from the year end financial statements of Sister Corporation are presented below : ( The difference between average and ending inventories is immaterial).
Current liabilities P400,000 Inventory turnover 10X
Gross Profit margin is 40%
Sister’s net sales for the year were :
a. P 2.00 million c. P 5.0 million
b. 20 million d. 3.3 million
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