Sales
Cost of Goods Sold 1,116,000
Gross Profit
Salaries and rent 181,220
Depreciation 186,420
EBIT 216,220
Cash 36,910
Accounts Receivable Current Liabilities
Marketable Securities 65,670 Long-term Debt 931,000
Inventory
Current Assets 940,650
St Equity 1,087,000
Plant & Equipment
Total Assets 2,587,000 Total Lia & St Equity
This year's inventory turnover ratio is 2.7
Last year's inventory was 380,000
1. What is the gross profit margin?
A Between 20.000% and 28.000%
B Between 28.000% and 29.000%
C Between 29.000% and 31.000%
D Between 31.000% and 40.000%
2.What is the quick ratio?
A Between 0.2 and 0.7
B Between 0.7 and 1.3
C Between 1.3 and 1.7
D Between 1.7 and 3.0