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rolotony rolotony
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A year ago
Multiple Enterprises, Inc.

Selected figures from the Balance Sheet and Income Statement of Multiple Enterprises, Inc. are shown below. (Compute answer accurate to two decimal places.)

From the Balance Sheet
 
From the Income Statement
Cash
$   514,800
 Net Sales
$1,900,000
Accounts Receivable
$   324,000
 Cost of Goods Sold
$   796,000
Merchandise Inventory:  Net Income
$   240,000
          End of this year
$   498,000
   
          End of last year
$   432,000
   
Total Current Assets
$1,336,800
   
Total Current Liabilities
$   269,200
   
Total Stockholders' Equity
$1,292,800
   



Refer to Multiple Enterprises, Inc. Compute the relationship of net income to net sales. Express your answer as a percentage.
Textbook 
Contemporary Business Mathematics for Colleges

Contemporary Business Mathematics for Colleges


Edition: 16th
Authors:
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miemitchmiemitch
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A year ago
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