2020 2019Net sales $4,800 $5,600Cost of goods sold $3,888 $3,637Net income $77 $147Accounts receivable $88 $109Inventory $1,314 $1,239Total assets $2,830 $3,170Total common stockholders' equity $994 $980Gross profit rate?

Gross Profit is the difference between the Revenue from Operations generated and the Cost of Goods…

Answered: 2020 2019 Net sales $4,800 $5,600 Cost…

Business

Accounting

2020 2019 Net sales $4,800 $5,600 Cost of goods sold $3,888 $3,637 Net income $77 $147 Accounts receivable $88 $109

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

2020 2019
Net sales $4,800 $5,600
Cost of goods sold $3,888 $3,637
Net income $77 $147
Accounts receivable $88 $109
Inventory $1,314 $1,239
Total assets $2,830 $3,170
Total common stockholders' equity $994 $980
Gross profit rate?

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