Antbowen
Oct 29, 2007, 09:50 AM
You have the following information on the You Can Do It Corp.:
Current liabilities $100000
Current ratio 2.0
Quick ratio 1.4
Inventory turnover 6x
Gross profit margin .20
Given these figures, calculate the firm’s total annual sales (assume that all sales are on credit). Show each step and all formulas.
Current liabilities $100000
Current ratio 2.0
Quick ratio 1.4
Inventory turnover 6x
Gross profit margin .20
Given these figures, calculate the firm’s total annual sales (assume that all sales are on credit). Show each step and all formulas.