# Net Income Assignment | Professional Writing

1. Speedy Ltd has a profit margin of 17.1 percent and net income of \$33,700. What is the common-size percentage for the cost of goods sold if that expense amounted to \$122,600 for the year? A. 62.21 percent B. 13.51 percent C. 15.37 percent D. 98.12 percent E. 28.45 percent

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2. Koru LLP has total assets of \$819,200, long-term debt of \$164,500, total equity of \$366,900, net fixed assets of \$582,800, and sales of \$1,121,500. The profit margin is 3.2 percent. What is the current ratio? A. .82 B. .79 C. 1.12 D. 1.56 E. 1.74

3. TriCo Inc has cash of \$4,950, inventory of \$28,470, fixed assets of \$9,860, accounts payable of \$17,200, and accounts receivable of \$4,660. What is the cash ratio? A. .08 B. .20 C. .30 D. .46 E. .29

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