Classified balance sheet 154100 113000 72100 82000

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classified balance sheet? $154,100$113,000$72,100$82,000
Concept Check* 1. What is the amount of gross profit to be reported on ABC Company's 12/31/X1 income statement?
12/31/X1 income statement?
* What is the amount of earnings before taxes (EBT) to be reported on ABC Company's 12/31/X1 income statement?
income statement? $17,800$12,000$14,100$18,500
Concept CheckAdditional Information for MKH Co. in 20X1:1. Net income for year 20X1 was $216,000.2. The company declared and paid a cash dividend of $132,800.3. The only posting to the net equipment account was for depreciation expense of $35,000 (i.e., no equipment was sold).
4. MKH sold land worth $19,200 for $8,000 cash.5. The company retired $148,400 worth of bonds payable at the beginning of the year.* 1. What was the loss on the sale of land recorded by MKH Company in 20X1?
20X1?
Concept CheckAdditional Information for PNG Co. in 20X1:1. All sales were on account.2. Earnings per share were $2.00.3. The closing stock price on 12/31/X1 was $15.40.4. PNG had 68,500 of its only class of (common) stock outstanding on 12/31/X1.* 1. What was PNG Company's current ratio for the year 20X1?
2.66* 2. What was PNG Company's debt to equity ratio for the year 20X1? 36.39%74.66%42.44%
274.82%* 5. What was PNG Company's profit margin for the year 20X1?
* 1. All other things equal, according to the law of demand, when the price of a good falls, ________.

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