Twin Lakes,Inc

question 86

Essay

Twin Lakes,Inc.reported the following December 31 amounts in its financial statements:
Compute the following for the 2019 ratios:
A.Gross profit percentage
B.Net profit margin
C.Total asset turnover
D.Return on assets

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Definitions:

Creditor

An individual or entity that is owed money by another party, often in the context of loaning funds or issuing credit.

Liability

The financial liabilities or obligations a company is legally bound to settle, which emerge in the process of conducting its business activities.

Owner's Equity

The amount of ownership an individual or entity has in a company, represented by the assets minus liabilities and often seen as the owner's claim against the company's assets.

Total Liabilities

The combined amount of debts and obligations that a company owes to outside parties at any given time.