Shown below is selected information from the financial statements of Supreme Company Dollar amounts are in millions (except for the per share data). Income statement information: Net sales $ 1,410 Cost of goods sold $ 565 Operating expenses $ 485 Net income $ 480 Balance sheet information: Average total equity $ 3,300 Average total assets $ 4,900 Supreme reported earnings per share for the year of $4 and paid cash dividends of $1 per share. At year-end, the Wall Street Journal listed Supreme's capital stock as trading at $97 per share. Supreme's gross profit rate was:
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Shown below is selected information from the financial statements of Supreme Company Dollar amounts...
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