LGG 2-18 Ratio proficiency McDougal Printing, Inc., had sales totaling $40,000,000 in fiscal year 2003. Some ratios for the company are listed below. Use this informa- tion to determine the dollar...

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Extracted text: LGG 2-18 Ratio proficiency McDougal Printing, Inc., had sales totaling $40,000,000 in fiscal year 2003. Some ratios for the company are listed below. Use this informa- tion to determine the dollar values of various income statement and balance sheet accounts as requested. McDougal Printing, Inc. Year Ended December 31, 2003 Sales $40,000,000 Gross profit margin Operating profit margin Net profit margin 80% 35% 8% Return on total assets 16% Return on common equity 20% Total asset turnover 2 Average collection period 62.2 days Calculate values for the following: a. Gross profits b. Cost of goods sold c. Operating profits d. Operating expenses e. Earnings available for common stockholders f. Total assets g. Total common stock equity h. Accounts receivable