ZYX Inc. shows the following balance sheet as of 12/31/2016 (in US $ millions): Assets Liabilities...

Question

ZYX Inc. shows the following balance sheet as of 12/31/2016 (in US $ millions):

Assets		Liabilities
Cash & checking deposits	3	Short-term debt	10
Accounts receivable	4	Accounts payable	6
Inventories & supplies	8	Mortgage debt	14
Vehicles	12	Total debt	30
Machinery & equipment	16
Buildings & structures	24	Equity	37
Total assets	67	Total liabilities	67

ZYX's financial office anticipates that the income statement from 1/1/2017 through 12/31/2017 will show the following figures (US $ millions):

(+) Total revenues	50
(-) Cost of goods sold	22
(-) Operating expenses (incl. depreciation)	10
(-) Interest payments & other financial expenses	4
(-) Taxes	2

Determine ZYX's expected gross profit. (Type your answer in millions of US $. Do not write the $ sign or needless zeros.)

Answer 1

Answer #1

Gross Profit = Revenue from Operation - Cost of Goods Sold

By applying this formula,

Expected Gross Profit of ZYX's = $50 - $22 = $28

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Answer 2

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ZYX Inc. shows the following balance sheet as of 12/31/2016 (in US $ millions): Assets Liabilities...

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