Current assets: Cash Accounts receivable, net Inventory Prepaid expenses Total current assets Total current liabilities The current ratio at the end of Year 2 is closest to: Multiple Choice O Sales on account in Year 2 amounted to $1,510 and the cost of goods sold was $900. O O 0.56 1.32 0.62 Year 2 1.27 $ 102 124 206 52 484 $368 Year 1 $ 132 134 196 52 514 $ 350

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Required information Skip to question   [The following information applies to the questions displayed below.]   The following data were provided by Mystery Incorporated for the year ended December 31:   Cost of Goods Sold $ 160,000 Income Tax Expense 16,290 Merchandise Sales (gross revenue) for Cash 230,000 Merchandise Sales (gross revenue) on Credit 40,000 Office Expense 18,500 Sales Returns and Allowances 6,750 Salaries and Wages Expense 38,200   2-a. What was the dollar amount of gross profit? 2-b. What was the gross profit percentage? (Round your percentage to 1 decimal place.)

Using the accounts and amounts below, calculate Income from Operations: Account Amount $173,570 Sales Revenue Net Sales Sales Returns and Allowances Cost of Goods Sold Operating Expenses 102,735 36,023 31,211 34,693

96. Accounting

Using the following information, what is the amount of net income? Purchases $25,987   Selling expenses $693 Merchandise inventory, September 1 7,575   Merchandise inventory, September 30 8,525 Administrative expenses 955   Sales 50,914 Rent revenue 1,194   Interest expense 848     a.$17,000b.$26,271c.$24,575d.$33,100

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A-6

Round percentages and ratios to the nearest tenth of a percent, dollars to nearest whole dollar. 2. a. ________dollars b. ________ dollars c. ________ dollars d. ________ dollars e. ________ dollars

Subject: acounting