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Voyageur Inc Income Statement for the year ended December 31st, 2003; Amount Percent

Sales 12,800,000

Sales returns and allowances 300,000

Net sales 12,500,000 100%

Cost of good sold 7,550,000

Gross profit 4,950,000

Selling expenses 1,550,000

Administrative expenses 825,000

Total operating expenses 2,375,000

Operating income 2,575,000

Other income 125,000

2,700,000

Other expenses(interest) 150,000

Income before Income taxes 2,550,000

Income taxes 937,000

Net Income 1,613,000


Problem 15-3

Voyageur Inc declared $250,000 of common stock dividends during 2003. The price of Voyageur Inc is common stock on December 31, 2003 is $29.75.

Instructions:

Using the data of Voyageur Inc from problem 15-2, determine the following amounts and ratios for 2003. All answers should be in 4 decimal points


calculations result

a) working capital

b) current capital

Answered by Expert Tutors
Subject: Business, Finance
Voyageur Inc Income Statement for the year ended December 31st, 2003; Amount Percent Sales 12,800,000 Sales returns and allowances 300,000 Net sales
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