Question

Problem 12-4B Calculate risk ratios (L012-3) The following income statement and balance sheets for The Athletic Attic are provided. THE ATHLETIC ATTIC Income Statement For the year ended December 31, 2021 Net sales $8,780,000 Cost of goods sold 5,390,000 Gross profit 3,390,000 Expenses: Operating expenses $1,540,000 Depreciation expense 198.000 Interest expense 38. Bee Income tax expense 348,000 Total expenses 2,124,000 Net income 31.266,000 THE ATHLETIC ATTIC Balance Sheets December 31 2021 2020 Assets Current assets: $ $ 152,000 730,000 1,345,000 98,000 292.000 750,000 1,015,800 73,000 1,090,000 (396, 000) $3,019.000 1,090,000 (198, 000) $ 2,932.000 Accounts receivable Inventory Supplies Long-term assets: Equipment Less: Accumulated depreciation Total assets Liabilities and Stockholders' Equity Current liabilities: Accounts payable Interest payable Income tax payable Long-term liabilities: Notes payable Stockholders' equity: Common stock Retained earnings Total liabilities and stockholders' equity 103,000 $ 79.000 3,800 29,800 34,000 480,000 480,000 580,000 1,822,000 $3,019.000 580,000 1,759, 400 $2,932,000

Answer 1

As per HOMEWORKLIB RULES I answered the 1st question (12-4B). For the answer of the next question please upload the question again.