Question:
Assets are $800 and liabilities are $200.
Revenues were $1,500, expenses were $700 and gains were $100.
Cash increased by $200. Investing activities generated $300 and financing activities used $600.
1. How much equity is there?
2. What was net income for the year?
3. How much cash was generated by (used in) operating activities?
4. What is the asset turnover ratio?
5. What is the profit margin?