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The comparative income statements for Golden Company are shown below. Calculate the following ratios for 2012:
(a) profit margin.
(b) gross margin.
(c) times interest earned.
Ratify
To formally approve or confirm an agreement or action, making it officially valid.
Disaffirms
To legally reject or void a contract or agreement, especially one entered into by minors or under conditions that invalidate consent.
Disaffirmance
The legal right of a minor to void contracts or agreements entered into, under specific conditions.
Contractual Capacity
The legal ability of a person or entity to enter into a contract.
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