Chapter+13+Solutions

Chapter+13+Solutions - Problem 13-1A (60 minutes) Part 1...

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Problem 13-1A (60 minutes) Part 1 Current ratio: December 31, 2010: $48,242 / $20,534 = 2.3 to 1 December 31, 2009: $38,514 / $20,349 = 1.9 to 1 December 31, 2008: $51,484 / $19,801 = 2.6 to 1 Part 2 ASTALON COMPANY Common-Size Comparative Income Statements For Years Ended December 31, 2010, 2009, and 2008 2010 2009 2008 Sales . ..................................................... 100.00% 100.00% 100.00% Cost of goods sold . ............................. 60.20 63.40 64.00 Gross profit . ......................................... 39.80 36.60 36.00 Selling expenses . ................................. 14.20 13.80 13.20 Administrative expenses . ................... 9.00 8.80 8.30 Total expenses . .................................... 23.20 22.60 21.50 Income before taxes . ........................... 16.60 14.00 14.50 Income taxes . ....................................... 3.09 2.87 2.94 Net income . .......................................... 13.51 % 11.13 % 11.56 % Problem 13-1A (Concluded) Part 3 ASTALON COMPANY
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This note was uploaded on 01/22/2011 for the course MGT 11A taught by Professor Armstrong during the Fall '08 term at UC Davis.

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Chapter+13+Solutions - Problem 13-1A (60 minutes) Part 1...

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