Excerpts from Andre Company’s December 31, 2024 and 2023, financial statements are presented below: 20242023Accounts receivable$ 40,000$ 36,000Inventory28,00035,000Net sales190,000186,000Cost of goods sold114,000108,000Total assets425,000405,000Total stockholders’ equity240,000225,000Net income32,50028,000 What is the profit margin for 2024?Note: Round your answer to one decimal place.

The ending Retained Earnings balance of Lambert Incorporated increased by $1.5 million from the beginning of the year. The company’s net income earned during the year is $3.5 million. What is the amount of dividends Lambert Incorporated declared and paid?

The receivables turnover ratio measures how many times, on average, a company collects its receivables during the year.

Which of the following infants will appear more cyanotic?

When the indirect method is used to prepare the operating activities section of the statement of cash flows, the adjustments to net income for balance sheet items include adjustments for changes in current assets and current liabilities.

Excerpts from Nationwide Company’s December 31, 2024 and 2023, financial statements are presented below: 20242023Accounts receivable$ 88,000$ 78,000Inventory93,00075,000Net sales450,000377,000Cost of goods sold263,000226,000Total assets805,000760,000Total stockholders’ equity485,000415,000Net income75,00055,000 What is the gross profit ratio for 2024?Note: Round your answer to one decimal place.

Using the indirect method, we begin with net income and then list adjustments to net income in order to arrive at operating cash flows.

The balance sheet of Technology World reports total assets of $800,000 and $900,000 at the beginning and end of the year, respectively. The cash return on assets for the year is 20%. What is Technology World’s net operating cash flows for the year?

When the indirect method is used to prepare the operating activities section of the statement of cash flows, adjustments to net income include both income statement items and balance sheet items.

Horizontal analysis examines trends in a company: