Only 6C question. Thanks! Analysis Component:Calculate the gross profit ratio for the year ended December 31, 2020, and compare it to the prior year, commenting on whether thechange was favourable or unfavourable. The gross profit ratio for Plymouth Electronics' year ended December 31, 2019, was 32%. (Donot round Intermedlate calculations. Round your final answer to 2 decimal places.)Gross profit ratio The following amounts appeared on Plymouth Electronics' adjusted trial balance as of December 31, 2020.DebitCreditMerchandise inventory19,500487,785Other assetsLiabilities$ 312,370Celine Plymouth, capitalCeline Plymouth, withdrawals247,60567,e00Sales942,e0eSales discounts14,580Sales returns and allowances5,715Interest income720Cost of goods soldSales salaries expense719,00079,20056,50033, eee3,0001,620Office salaries expenseRent expense, selling spaceRent expense, office spaceStore supplies expenseOffice supplies expense735Depreciation expense, store equipmentDepreciation expense, office equipmentInsurance expense8,9102,7603,390Totals$1, 502,695 $1,502,695Required:1. Prepare a 2020 classified multiple-step Income statement for Plymouth Electronics.PLYMOUTH ELECTRONICSIncome StatementFor Year Ended December 31, 2020

1. Gross Profit - Gross Profit is the ratio that derived by Gross Profit / Net Sales X 100%.

Analysis Component: Calculate the gross profit ratio for the year ended December 31, 2020, and compare it to the prior year, commenting on whether the change was favourable or unfavourable. The gross profit ratio for Plymouth Electronics' year ended December 31, 2019, was 32%. (Do not round Intermedlate calculations. Round your final answer to 2 decimal places.) Gross profit ratio

Analysis Component: Calculate the gross profit ratio for the year ended December 31, 2020, and compare it to the prior year, commenting on whether the change was favourable or unfavourable. The gross profit ratio for Plymouth Electronics' year ended December 31, 2019, was 32%. (Do not round Intermedlate calculations. Round your final answer to 2 decimal places.) Gross profit ratio

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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7:27 f t < Session[1].docx - Word ✓ Qo 138 - 21 Paragraph O References Mailings Review View Help BLUEBEAM One day you're going to miss my boring texts ## TO Accessibility: Investigate Search Costs to date Estimated costs to complete Progress billings during the year Cash collected during the year hoher webb ng Normal ||| No Spacing Styles Acrobat 2021 $ 980,000 3,020,000 1,000,000 648,000 Go to website O Heading 1 √ Calculate the amount will be reported for accounts receivable on the statement of financial position at December 31, 2022. 3. Accounts Receivable on the Statement of Financial Position at December 31, 2022 for Newton Corp.: Accounts Receivable is calculated as the cumulative billings to date minus the cumulative cash collected: Accounts Receivable at December 31, 2022 = Cumulative Billings- Cumulative Cash Collected Accounts Receivable at December 31, 2022 = ($1,000,000+ $1,000,000) - ($648,000+ $1,280,000) = $2,000,000 - $1,928,000 = $72,000 Therefore, the amount reported…
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117 For B.A/B.COM apter - 4 Day:. Questions @Nat The prabability that. the Lumy Date: 20 athod: vchicle anledng Cavens has Canadian. ligense plates is 0, 12; the probability that it is Camper is 0,28; and the probability that iš a Camper with . aqual to Canadian license plates is 009. What is the piobability Hat 1 iJe A Campe betta enfering the Lumy Cavens has Canadian license.
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Supply the missing items of the following simple interest table. Thank you. Missing items: 6. Interest 7. Principal 8. Time