Canadian Bacon Inc. financial statements are presented in the table below. Based

Question

Canadian Bacon Inc. financial statements are presented in the table below.

Based on the information in the table, calculate the firm’s the operating profit margin.

Round the answers to two decimal places in percentage form.

Balance Sheet December 31, 2013

Income Statement, Year of 2013

Cash and marketable securities $112,000 Accounts payable $211,000 Accounts receivable $325,000 Notes payable $51,500 Inventories $426,000 Accrued expenses $50,100 Prepaid expenses $10,700 Total current liabilities $312,600 Total current assets $873,700 Long-term debt $225,000 Gross fixed assets $1,514,000 Par value and paid-in-capital $117,000 Less: accumulated depreciation $315,000 Retained Earnings $1,418,100 Net fixed assets $1,199,000 Common Equity 1,535,100 Total assets $2,072,700 Total liabilities and owner’s equity $2,072,700

Explanation / Answer

Operating Profit Margin Sales 3256600 COGS -2572714 Selling & Admin Expenses -323000 Depreciation -115000 Operating Margin 245886 Operating Margin= Operating Profit/ Sales 245886/3256600*100 7.55%

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