CHAPTER 1

No, SGA is not directly related to the gross profit margin. SGA is “below” gross profit. Based on the current ratio, is Pier 1 Imports more or less liquid in 2007 vs. 2006? Explain. Less 2.23 vs 2.68—the smaller the current ratio, the less liquid. For every $1 of assets, Pier 1 Imports has _____ net … ................
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