FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Question
Trooper Nova Company reported the following. Sales $2,200,000 Cost of Goods Sold $730,000 Operating Expenses $397,000 Interest expense included in Operating Expenses $43,000 Income Taxes Stockholders' Equity (Average) Do not enter dollar signs or commas in the input boxes. Round your answers to 2 decimal places. a) Calculate net income. Net Income = $Answer b) Calculate the net profit margin. 31% of income before tax $17,000,000 Net Profit Margin = Answer% c) Calculate the times interest earned. Times Interest Earned = Answer times d) Calculate the return on equity. Return on Equity = Answer%
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Transcribed Image Text:Trooper Nova Company reported the following. Sales $2,200,000 Cost of Goods Sold $730,000 Operating Expenses $397,000 Interest expense included in Operating Expenses $43,000 Income Taxes Stockholders' Equity (Average) Do not enter dollar signs or commas in the input boxes. Round your answers to 2 decimal places. a) Calculate net income. Net Income = $Answer b) Calculate the net profit margin. 31% of income before tax $17,000,000 Net Profit Margin = Answer% c) Calculate the times interest earned. Times Interest Earned = Answer times d) Calculate the return on equity. Return on Equity = Answer%
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