A company's net sales were $928,350, its cost of goods sold was $487,520, and its net income was $160,390. Calculate its gross margin ratio.
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- The following information is available for Cooke Company for the current year: The gross margin is 40% of net sales. What is the cost of goods available for sale? a. 5840,000 b. 960,000 c. 1,200,000 d. 1,220,000A company’s net sales were $221,100, its cost of goods sold was $75,800, and its gross profit was $145,300. Calculate the gross margin ratio.A company's net sales were $677,900, its cost of goods sold was $223,810, and its net income was $35,050. Its gross margin ratio equals: A. 302.9% B. 33% C. 67% D. 5.2% E. 10.7%
- A company has net sales of $770,300 and cost of goods sold of $556,300. Its net income is $21,910. The company's gross margin and operating expenses, respectively, are:A company's gross profit (or gross margin) was $129,650 and its net sales were $502,900. Its gross margin ratio is:A company has sales of $729,000 and cost of goods sold of $292,000. Its gross profit equals:
- If Net Sales is $10,500, Cost of Goods Sold is $5,400, Gross Profit is $5,100 and Operating Expenses are $1,800, what is the Net Income from Operations?For the fiscal year, sales were $191,350,000 and the cost of merchandise sold was $114,800,000.a. What was the amount of gross profit?b. If total operating expenses were $18,250,000, could you determine net income?c. Is Customer Refunds Payable an asset, liability, or owner’s equity account, and what is its normal balance?d. Is Estimated Returns Inventory an asset, liability, or owner’s equity account, and what is its normal balance?A firm has cost of goods sold of $6,570, gross profit of $5,860, and operating expenses of $3,210. Calculate the common-sized value for operating expenses.