Using the information provided at the top of this section fo…

Using the information provided at the top of this section for Swimwear Inc., calculate the following: Gross profit ($)  Blank #1  Net income ($)  Blank #2  Gross profit margin (%)  Blank #3  Profit margin (%)  Blank #4    Round answers to the nearest whole number. When entering your numerical responses below do not include dollar signs, commas, spaces, decimals, or percentage signs.  For example, a gross profit margin (%) of 55.23% would just be entered as 55.

Using the information provided at the top of this section fo…

Using the information provided at the top of this section for Kate’s Bike Shop, calculate the following for 2024: Current ratio (round answer to two decimal places ie. 1.00)  Blank #1 Earnings per share (round answer to two decimal places ie. 1.00)  Blank #2 Inventory turnover (round answer to two decimal places ie. 1.00)  Blank #3 Days in inventory (round answer to the nearest whole number ie. 1)  Blank #4 Formulas: Current ratio = current assets / current liabilities Earnings per share (EPS) = income available to common shareholders / weighted average number of common shares Inventory turnover ratio = cost of goods sold / average inventory Days in inventory = 365 / inventory turnover ratio

Calculate retained earnings for Kate’s Bike Shop at December…

Calculate retained earnings for Kate’s Bike Shop at December 31, 2024 using the information in the adjusted trial balance provided in this section of the quiz. Kate’s Bike Shop Calculation of Retained Earnings Year Ended December 31, 2024     Retained Earnings Balance, January 1 Blank #1 Net income Blank #2 Dividends declared Blank #3 Balance, December 31 Blank #4 When entering numerical responses, do not include dollar signs, commas, spaces or decimals. Enter items that need to be deducted with a negative sign in front of the number.