Activity 6: TJ's Bakes Based on the financial information of TJ's Bakes from its Statement of Comprehensive Income, compute for Profitability Ratio and interpret the result: P 238,000 84,000 Net Sales Cost of goods sold Operating Expenses Interest expense 39,800.00 3,500.00 Income tax expense 5,600.00

Activity 6: TJ's Bakes Based on the financial information of TJ's Bakes from its Statement of Comprehensive Income, compute for Profitability Ratio and interpret the result: P 238,000 84,000 Net Sales Cost of goods sold Operating Expenses Interest expense 39,800.00 3,500.00 Income tax expense 5,600.00

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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Cochran corporation, Inc. has the following income statement: Cochran corporation, Inc. Income statement For the year ended December 31, 2021 net sales $240 Cost of goods sold $150 gross profit $90 Operating expenses $65 Net income $25 Using vertical analysis, what percentage is assigned to operating expenses? a. 27,1% b. 43.3% c. 72.2% d. 260.0%
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#becausesneaker.... HW CH 17 Vertical Analysis of Income Statement Revenue and expense data for Innovation Quarter Inc. for two recent years are as follows: Current Year Previous Year Sales Cost of merchandise sold Selling expenses Administrative expenses Income tax expense Custom Order Sales Cost of merchandise sold Selling expenses a. Prepare an income statement in comparative form, statin each item for both years as a percent of sales. If required, round percentages to one decimal place. Enter all amounts as positive numbers. Administrative expenses Income tax expense $483,000 280,140 82,110 86,940 14,490 Innovation Quarter Inc. Comparative Income Statement For the Years Ended December 31 Current year Amount $483,000 280,140 82,110 86,940 14,490 percentage points, and administrative expenses net income as a percent of sales Current year Percent % % % % % % $420,000 218,400 79,800 71,400 21,000 % % % Previous year Amount $420,000 218,400 79,800 71,400 21,000 Previous year Percent b.…
K The following information relates to Fantastic Clothing, Inc. Net Sales Revenue Cost of Goods Sold Interest Expense Operating Expenses Calculate the net income. OA. $260,700 OB. $265,000 O C. $315,700 OD. $320,000 $550,000 230,000 4,300 55,000
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Subject: accounting