Compute the component percentages for Trixy Magic's income statement below. Note: Enter your answers as a percentage rounded to 2 decimal place (i.e. 0.1234 should be entered as 12.34). Enter all answers as positive values. TRIXY MAGIC, INCORPORATED Consolidated Statements of Earnings (in millions) Net sales Cost of sales Gross margin Fiscal 2021 % Sales Fiscal 2020 % Sales Fiscal 2019 % Sales $ 48,244 100.00 % $ 48,291 100.00 % $ 46,944 100.00% 31,730 31,569 30,746 16,514 100.00 16,722 100.00 16,198 100.00 Expenses: Selling, general, and administrative 11,084 10,524 9,744 Depreciation 1,541 1,369 1,176 Interest-net 287 209 166 Total expenses 12,912 0.00 12,102 0.00 11,086 0.00 Pre-tax earnings 3,602 100.00 4,620 100.00 5,112 100.00 Income tax provision 1,322 1,705 1,902 Net earnings $ 2,280 100.00 % $ 2,915 100.00 % $ 3,210 100.00 %
Compute the component percentages for Trixy Magic's income statement below. Note: Enter your answers as a percentage rounded to 2 decimal place (i.e. 0.1234 should be entered as 12.34). Enter all answers as positive values. TRIXY MAGIC, INCORPORATED Consolidated Statements of Earnings (in millions) Net sales Cost of sales Gross margin Fiscal 2021 % Sales Fiscal 2020 % Sales Fiscal 2019 % Sales $ 48,244 100.00 % $ 48,291 100.00 % $ 46,944 100.00% 31,730 31,569 30,746 16,514 100.00 16,722 100.00 16,198 100.00 Expenses: Selling, general, and administrative 11,084 10,524 9,744 Depreciation 1,541 1,369 1,176 Interest-net 287 209 166 Total expenses 12,912 0.00 12,102 0.00 11,086 0.00 Pre-tax earnings 3,602 100.00 4,620 100.00 5,112 100.00 Income tax provision 1,322 1,705 1,902 Net earnings $ 2,280 100.00 % $ 2,915 100.00 % $ 3,210 100.00 %
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Compute the component percentages for Trixy Magic's income statement below.
Note: Enter your answers as a percentage rounded to 2 decimal place (i.e. 0.1234 should be entered as 12.34). Enter all
answers as positive values.
Net sales
Cost of sales
TRIXY MAGIC, INCORPORATED
Consolidated Statements of Earnings
(in millions)
Fiscal 2021
% Sales
Fiscal 2020
% Sales
Fiscal 2019
% Sales
$ 48,244
100.00 % $
48,291
100.00 % $ 46,944
100.00 %
31,730
31,569
30,746
16,514
100.00
16,722
100.00
16,198
100.00
Gross margin
Expenses:
Selling, general, and administrative
11,084
10,524
9,744
Depreciation
1,541
1,369
1,176
Interest-net
287
209
166
Total expenses
12,912
0.00
12,102
0.00
11,086
0.00
Pre-tax earnings
3,602
100.00
4,620
100.00
5,112
100.00
Income tax provision
1,322
1,705
1,902
Net earnings
$
2,280
100,00 %
$
2,915
100.00 %
$
3,210
100.00 %
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