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Liz Marett is the chief financial officer for Fulton Restaurants. She delivered the following comments in a recent conference call with analysts that follow the company: "20X5 was another excellent year. Net income was a record setting $10,000,000. Food Revenue reflected 60% of total revenue with the remainder being beverage and other. We maintained our overall profit margin at the historic 10% level. This occurred despite an increase in food costs that lowered our food department gross profit to 55%. We are proud that we continue to maintain a healthy balance sheet that is free of any liabilities. All of our financing continues to be provided by our common and preferred shareholders. Our beginning of year equity of $75,000,000 was sufficient to fund our capital needs, and no additional shares were issued this year. Our shareholders have again received their full $2,000,000 in dividends for the year. The remaining earnings have been reinvested in the company." Use profitability ratios to determine Fulton's: a)Total sales b)Food Revenue c)food cost of goods sold d)net income
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State the list of Special journals Purchases - All credit purchases of merchandise Cash Payments - All payments of cash Sales - All credit sales of merchandise
office supplies on hand at year-end amounted to 3000.
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I need an experts advice, I''m nearly finished with my Dissertation on IAS 40 - but I need some more guidance on issues with the standard and how it can be improved
Two companies enter into loan agreements on 1 March 2012. On that date they also enter into an agreement to swap the loans. The details for each company and loan are: L R R Hood
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