2. What can you say about the net income for the year 2020? * O A) Net Income has increased as a result of the increased operating profit. B) Net Income has decreased as a result of the decreased operating profit which resulted from the increase in COGS... C) Net income is $2,061 representing 1.3% of sales. The company has a overall decrease in profit compared to the year 2019. D) Both (B) & (C)

Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
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2. What can you say about the net income for the year 2020?
A) Net Income has increased as a result of the increased operating profit.
B) Net Income has decreased as a result of the decreased operating profit which
resulted from the increase in COGS..
C) Net income is $2,061 representing 1.3% of sales. The company has a overall
decrease in profit compared to the year 2019.
D) Both (B) & (C)
E) None of the above
2What is the gross profit marcin for the comp
over the years 2020 and 2019
Transcribed Image Text:2. What can you say about the net income for the year 2020? A) Net Income has increased as a result of the increased operating profit. B) Net Income has decreased as a result of the decreased operating profit which resulted from the increase in COGS.. C) Net income is $2,061 representing 1.3% of sales. The company has a overall decrease in profit compared to the year 2019. D) Both (B) & (C) E) None of the above 2What is the gross profit marcin for the comp over the years 2020 and 2019
Income Statement: The income statement of Taco Bell company is given for the
years 2020 & 2019.
2020
2019
General and administrative expenses
25,000
24,000
Interest expense
1,200
1,500
Net sales
$124,000
$138,000
Selling expenses
11.880
12,720
Income taxes
$1,109.5
1,883
COGS
108,000
95,000
Gain on Sale of land
450
600
Transcribed Image Text:Income Statement: The income statement of Taco Bell company is given for the years 2020 & 2019. 2020 2019 General and administrative expenses 25,000 24,000 Interest expense 1,200 1,500 Net sales $124,000 $138,000 Selling expenses 11.880 12,720 Income taxes $1,109.5 1,883 COGS 108,000 95,000 Gain on Sale of land 450 600
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