Calculate the missing amounts. (Loss amounts should be indicated with a minus sign and input all other amounts as positive values. Do not round intermediate calculations. Round "Gross profit ratio" to 2 decimal places.) Sales Sales discounts Sales returns and allowances Net sales Cost of goods sold Gross profit from sales Selling expenses Administrative expenses Total operating expenses Profit (loss) Gross profit ratio $ 2023 Company A 256,000 2.560 153.600 51.000 17.920 25.600 % $ 2022 180,000 16,000 163,000 19.000 46.000 14.400 % 2023 Company B 1,100 5,500 57,000 48.400 25.000 29.700 $ 2022 45,000 500 42.000 20.000 9.000 2.000 96

Calculate the missing amounts. (Loss amounts should be indicated with a minus sign and input all other amounts as positive values. Do not round intermediate calculations. Round "Gross profit ratio" to 2 decimal places.) Sales Sales discounts Sales returns and allowances Net sales Cost of goods sold Gross profit from sales Selling expenses Administrative expenses Total operating expenses Profit (loss) Gross profit ratio $ 2023 Company A 256,000 2.560 153.600 51.000 17.920 25.600 % $ 2022 180,000 16,000 163,000 19.000 46.000 14.400 % 2023 Company B 1,100 5,500 57,000 48.400 25.000 29.700 $ 2022 45,000 500 42.000 20.000 9.000 2.000 96

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

Chapter12: Financial Statements, Closing Entries, And Reversing Entries

Section: Chapter Questions

Problem 3E: Identify each of the following items relating to sections of an income statement as Revenue from...

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Multiple Select Question Select all that apply Identify the statements below which are correct regarding a merchandiser's multi-step income statement. Accounts receivable is included on the statement. Cost of goods sold is subtracted from net sales in order to determine gross profit. Merchandise inventory is reported on the statement. Total assets is the lastne on the statement. Expenses are subtracted from gross profit in order to calculate net income.