Matthew_McCoy_Problem 17-1A

# Matthew_McCoy_Problem 17-1A - MatthewMcCoy Problem171A...

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Matthew McCoy Problem 17-1 A Current ratio =  Current assets/Current liabilities 2010 current ratio= 48,242/20,534= 2.3 2009 current ratio= 38,514/20,349= 1.9 2008 current ratio= 51,484/19,801= 2.6 Current ratios are rounded to the nearest tenth. ASTALON COMPANY     Common-Size Comparative Income Statements   For Years Ended December 31, 2010, 2009, and 2008                  Common-Size                   Percents*                   2010 2009 2008 2010 2009 2008 Sales 526,304 403,192 279,800 100.00% 100.00% 100.00% Cost of goods sold 316,835 255,624 179,072 60.20% 63.40% 64.00% Gross profit 209,469 147,568 100,728 39.80% 36.60% 36.00% Selling expenses 74,735 55,640 36,934 14.20% 13.80% 13.20% Administrative expenses 47,637 35,481 23,223 9.05% 8.80% 8.30% Total expenses 122,102 91,121 60,157 23.20% 22.60% 21.50% Income before taxes 87,367 56,447 40,571 16.60% 14.00% 14.50% Income taxes 16,250

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Matthew_McCoy_Problem 17-1A - MatthewMcCoy Problem171A...

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