8- QWERTY Co. is a manufacturing company and its selected financial statements items are given as following. Net Sales equals to 32000 for the year 2020 and 28000 dollars for the year 2019. COGS equals to 24000 and 21000 respectively for the year 2020 and 2019. Operating income equals to 4300 and 3800 respectively for the year 2020 and 2019. Interest expense equals to 2000 and 1800 respectively for the year 2020 and 2019. Interest income equals to 500 and 400 respectively for the year 2020 and 2019. Tax expense equals to 1000 and 800 respectively for the year 2020 and 2019. Net income equals to 1800 and 1600 respectively for the year 2020 and 2019. What is gross profit margin of of QWERTY Co. for the year 2020? a) 5% 01 15% 20% 25%

8- QWERTY Co. is a manufacturing company and its selected financial statements items are given as following. Net Sales equals to 32000 for the year 2020 and 28000 dollars for the year 2019. COGS equals to 24000 and 21000 respectively for the year 2020 and 2019. Operating income equals to 4300 and 3800 respectively for the year 2020 and 2019. Interest expense equals to 2000 and 1800 respectively for the year 2020 and 2019. Interest income equals to 500 and 400 respectively for the year 2020 and 2019. Tax expense equals to 1000 and 800 respectively for the year 2020 and 2019. Net income equals to 1800 and 1600 respectively for the year 2020 and 2019. What is gross profit margin of of QWERTY Co. for the year 2020? a) 5% 01 15% 20% 25%

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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Bellingham Industries, a manufacturer of the furniture industry, had the following financial performance for the last two years as shown on their income statements below: Billingham Industries, Inc. Comparative Income Statement For the Years Ended December 31, 2021 and 2020 2021 2020 Amount Amount Sales $1,280,000 $1,180,000 Cost of goods sold 644,800 613,600 Gross profit 635,200 566,400 Selling expenses 230,500 188,800 Administrative expenses 182,500 177,000 Total operating expenses 413,000 365,800 Income from operations 222,200 200,600 Other income 77,000 70,800 Income before income tax 299,200 271,400 Income tax expense 121,600 106,200 Net income $177,600 $165,200 1. Prepare a horizontal analysis using the form provided to…
9- QWERTY Co. is a manufacturing company and its selected financial statements items are given as following. Net Sales equals to 32000 for the year 2020 and 28000 dollars for the year 2019. COGS equals to 24000 and 21000 respectively for the year 2020 and 2019. Operating income equals to 4300 and 3800 respectively for the year 2020 and 2019. Interest expense equals to 2000 and 1800 respectively for the year 2020 and 2019. Interest income equals to 500 and 400 respectively for the year 2020 and 2019. Tax expense equals to 1000 and 800 respectively for the year 2020 and 2019. Net income equals to 1800 and 1600 respectively for the year 2020 and 2019. What is operating income margin of of QWERTY Co. for the year 2020? a) 9% o13 b) 11% 13% 15%
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