Calculate the missing amounts. Sales Cost of goods sold Gross profit Operating expenses Net income Profit margin Marigold Inc. Gross profit margin $80,500 54,740 15,295 Marigold Inc. Calculate the profit margin and the gross profit margin for each company. (Round answers to 1 decimal place, e.g. 17.5%.) % Martinez Inc. % $102,000 39,780 18,870 Martinez Inc. % %

Calculate the missing amounts. Sales Cost of goods sold Gross profit Operating expenses Net income Profit margin Marigold Inc. Gross profit margin $80,500 54,740 15,295 Marigold Inc. Calculate the profit margin and the gross profit margin for each company. (Round answers to 1 decimal place, e.g. 17.5%.) % Martinez Inc. % $102,000 39,780 18,870 Martinez Inc. % %

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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es A comparative income statement is given below for McKenzie Sales, Limited, of Toronto: McKenzie Sales, Limited Comparative Income Statement Sales Cost of goods sold. Gross margin Selling and administrative expenses: Selling expenses Administrative expenses Total expenses Net operating income Interest expense Net income before taxes Sales Cost of goods sold Gross margin Selling and administrative expenses: Selling expenses Administrative expenses Total selling and administrative expenses Net operating income This Year $ 7,390,000 4,630,000 2,760,000 Members of the company's board of directors are surprised to see that net income increased by only $232,600 when sales increased by $1,773,600. Interest expense Net income before taxes Required: 1. Express each year's income statement in common-size percentages. (Round your percentage answers to 1 decimal place (i.e., 0.1234 should be entered as 12.3).) This Year % % 0.0% Last Year $ 5,616,400 3,512,000 2,104,400 % % 0.0 % 0.0 % % 0.0%…
I don't understand how to get the percentage for the Sales to start off.... Income statement information for Einsworth Corporation follows: Sales $596,000 Cost of goods sold 149,000 Gross profit 447,000 Prepare a vertical analysis of the income statement for Einsworth Corporation. If required, round percentage answers to the nearest whole number. Einsworth CorporationVertical Analysis of the Income Statement Amount Percentage Sales $596,000 fill in the blank 1% Cost of goods sold 149,000 fill in the blank 2 Gross profit $447,000 fill in the blank 3%
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Profitability and the Income Statement Presented below is income statement data for Short & Company as of year-end: Income Tax Expense $5, 400 Cost of Goods Sold 14, 300 Other Expenses 500 Net Revenue 62, 950 Operating Expenses 27, 000 Required Prepare a multi- step income statement. Note: Do not use negative signs with your answers. SHORT & COMPANY Income Statement Current Year Answer Net Revenue Answer 62, 950 Answer Cost of Goods Sold Answer 14, 300 Gross Profit on Sales Answer 48, 650 Answer Operating Expenses Answer 27,000 Operating Income Answer 21,650 Answer Other Expenses Answer 500 Income before income Taxes Answer 0 Answer Income Tax Expense Answer 5, 400 Net Income Answer 0 Calculate the company's return on sales ratio. Round the return on sales ratio to one decimal place. If Short's return on sales was 16 percent in the prior year, is the company's profitability improving or declining? Return of sales for current year= Answer 0 and thus, the company's profitability…
Use the following to answer questions 34 – 39 ST reports the following income statement results: $700,000 221,575 Sales Operating expense Net income 48,800 Sales returns & allowances 25,000 Gross profit 282,825 Interest expense 250 34. $ Calculate Net sales: 35. Calculate Cost of Goods Sold Calculate operating 36. income 37. $ Calculate Income before Income tax (IBT) %. Calculate the gross profit 38. margin (one decimal place) %. Calculate the net profit margin (one 39. decimal place)
Supply the missing dollar amounts for the income statement of Williamson Company for each of the following independent cases: Sales Revenues, gross Sales Returns and Allowances Net Sales Cost of Goods Sold Gross Profit $ Case A 8,500 200 6,000
calculate Alex‘s gross profit percentage and return on sales ratio. (Round answer to one decimal place)
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The company reports the following income statement results: Gross profit $500,000 Interest expense 15,000 Sales discounts 8,000 Net Sales Operating expense Effective tax rate $ $ $ 990,000 365,000 18% Calculate Sales. Calculate Income before Income tax (IBT). Calculate net income. % Calculate the gross profit margin (one decimal place) % Calculate the profit margin (two decimal places)
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Calculate Alex’s Gross profit percentage and return on sales ratio. (round answer to one decimal place.)
Can you help me with #14-#16?