Provided Below Are the Comparative Income Statement and Balance Sheet

question 151

Essay

Provided below are the comparative income statement and balance sheet for Aloha Company at, and for the years ended, December 31, 20X6 and 20X5. $\begin{array}{lll}&20X6&20X5\\\text { Sales (all on account) } & \$ 1,70 & \$ 1,606 \\\text { Cost of goods sold } & \underline{1,126} & \underline{1,022} \\\text { Gross profit } & \$ 576 & \$ 584 \\\text { Operating expenses } & \underline{318} & 280\\\text { Operating income } & \$ 258 & \$ 304 \\\text { Interest expense } &{72}&{68} \\\text { Income before taxes } & \$ 186 & 94 \\\text { Income tax expense } & 74 & 94\\\text { Net income }&\$112&\$142\end{array}$
Determine the following ratios for 20X6 given the above information:
1. the current ratio
2. the average collection period in days
3. the return on stockholders' equity
4. the price- earnings ratio
5. the dividend yield

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Ethnic Minority Students

Students who belong to racial or ethnic groups that are not in the majority within a particular society or educational institution.

Community Colleges

Educational institutions that provide two-year academic and vocational programs, often serving as a more accessible and affordable option for higher education.

Immediate Repair

The quick correction of a mistake or misunderstanding in conversation, usually by the person who made the error.

Latent Function

Unintended, unrecognized consequences of actions that help a social system maintain equilibrium.