Selected data from the year-end financial statements of Atlas Corp. are presented below: Current ratio 2.0; Quick ratio 1.5; Current liabilities ₱600,000; Inventory turnover 8.0; Gross profit margin 40%. What is the amount of Atlas Corp. sales for the year?
Selected data from the year-end financial statements of Atlas Corp. are presented below: Current ratio 2.0; Quick ratio 1.5; Current liabilities ₱600,000; Inventory turnover 8.0; Gross profit margin 40%. What is the amount of Atlas Corp. sales for the year?
Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Chapter15: Financial Statement Analysis
Section: Chapter Questions
Problem 6MCQ
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Selected data from the year-end financial statements of Atlas Corp. are presented below: Current ratio 2.0; Quick ratio 1.5; Current liabilities ₱600,000; Inventory turnover 8.0; Gross profit margin 40%. What is the amount of Atlas Corp. sales for the year?
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