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(Solution Download) Compute the following ratios for 2009
DILLON COMPANY
Income Statement
For Year Ended December 31
2009 2008
Net sales (all on account) $600,000 $520,000
Expenses
Cost of goods sold 415,000 354,000
Selling and administrative 120,800 114,800
Interest expense 7,800 6,000
Income tax expense 18,000 14,000
Total expenses 561,600 488,800
Net income $ 38,4...
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DATE ANSWEREDDec 08, 2020
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