Refer to the following selected financial information from Gomez Electronics Compute the company's debt-to-equity ratio for Year 2 Year 2 $484,000 277,400 10,800 Net sales Cost of goods sold Interest expense Net income before tax Net income after tax Total assets Total liabilities Total equity 68,350 47,150 319,300 175,900 143,400 Year 1 $ 427,350 251,220 11,800 53,780 41,000 294,600 168,400 126,200

FINANCIAL ACCOUNTING
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Chapter1: Financial Statements And Business Decisions
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Refer to the following selected financial information from Gomez Electronics Compute the company's debt-to-equity ratio for Year 2
Net sales
Cost of goods sold
Interest expense
Net income before tax
Net income after tax
Total assets
Total liabilities.
Total equity
Year 2
$ 484,000
277,400
10,800
68,350
47,150
319,300
175,900
143,400
Year 1
$ 427,350
251,220
11,800
53,780
41,000
294,600
168,400
126,200
Transcribed Image Text:Refer to the following selected financial information from Gomez Electronics Compute the company's debt-to-equity ratio for Year 2 Net sales Cost of goods sold Interest expense Net income before tax Net income after tax Total assets Total liabilities. Total equity Year 2 $ 484,000 277,400 10,800 68,350 47,150 319,300 175,900 143,400 Year 1 $ 427,350 251,220 11,800 53,780 41,000 294,600 168,400 126,200
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