ABC Inc.
Income Statement
For Years Ended December 31, 2019, 2018, and 2017
Sales
$549,500 $492,300 $530,900
Cost of goods sold
350,200 353,700 441,300
Gross margin
199,300 138,600 89,600
Operating expenses
101,500 64,100 61,800
Income from operations
97.800 74,500 27,800
Interest expense
4,950 5,050 5,300
Net income
$92,850 $69,450 $22,500
ABC Inc.
Balance Sheet
December 31, 2019, 2018, and 2017
Assets
2019 2018 2017
Cash
$17,400 $21,000 $20,000
Short-term investments
26,000 29,000 28,000
Accounts receivable
47,500 49,300 46,100
Merchandise inventory
42,700 36,100 34,400
Prepaid expenses
3,900 3,600 3,400
Notes receivable, due in 2022
11,000 10,500 12,000
Plant assets, net
215,000 189,000 212,000
Total assets
$363,500 $338,500 $355,900
Liabilities and Stockholders' Equity
Accounts payable
$35,900 $36,700 $45,100
Salaries payable
17,900 15,400 18,600
Property taxes payable
2,350 2,050 1,800
Long-term note payable
93,000 115,000 129,000
Common stock, 100,000 shares
140.000 140.000 160,000
Retained earnings
74,350 29,350 1,400
Total liabilities and stockholders' equity
$363,500 $338,500 $355,900
Ratio
2019 2018 Analysis
Accounts receivable turnover
(select one)
Total asset turnover
(select one)he)
Inventory turnover
favorablene)
Number of days' of sales in inventory
unfavorable
equale)