FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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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
$ 479,500
276,500
9,900
67,450
46,250
317,500
180,400
137,100
Year 1
$426,450
250,320
10,900
52,880
40,100
289, 200
167,500
121,700
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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 $ 479,500 276,500 9,900 67,450 46,250 317,500 180,400 137,100 Year 1 $426,450 250,320 10,900 52,880 40,100 289, 200 167,500 121,700
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