Need help Compute the gross margin consideringthe following information from Kelly'sKandles.Sales$133,200Selling Expenses13,500General and Administrative16,100ExpensesNet income before tax49,700Net income40,100

Step 1: Gross margin or gross profit Net income before tax = Gross profit - General and…

Answered: Compute the gross margin considering…

Financial Management: Theory & Practice

16th Edition

ISBN:9781337909730

Author:Brigham

Publisher:Brigham

Chapter2: Financial Statements, Cash Flow,and Taxes

Section: Chapter Questions

Problem 15P: Use the following income statement of Elliott Game Theory Consulting to determine its net operating...

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Question: Compute the gross margin considering the following information from Kelly's Kandles. Sales Selling Expenses $133,200 13,500 General and Administrative Expenses 16,100 Net income before tax Net income 49,700 40,100
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Consider the following given information below: Total Income P1,321,000 Total Distribution Cost 268,900 Total Administrative Cost 250,200 Other Expenses 8,000 Interest Expense 9,000 Total Expenses 536,100 Income Tax Expense 235,500 What is the amount of income before tax to be reflected in the income statement?
Please answer very fast then i ll upvote Calculate EBIT. Revenue 1,061,751.0 Cost of sales 690,135.0 Selling, general and administration 53,087.0 Other income 11,796.0 Operating income 330,325.0 Interest expense 19,874.0 Profit before tax 310,451.0 Tax expense 46,500.0 Net income 263,951.0 The footnotes mention the following: Cost of sales includes inventory write off costs 39,677.0 Cost of sales includes distribution costs 120,458.0 SG&A includes corporate restructuring expenses 15,570.0 Responses 385,572.0 275,078.0 330,325.0 506,030.0
What is the net income from the following statement?
Prepare the Pro-Forma Statement of Financial Position for the year ending 31 December 2023 INFORMATIONSibiya ProjectsStatement of Comprehensive Income for the year ended 31 December 2022 RSales 10 000 000Cost of sales (5 750 000)Gross profit 4 250 000Variable, selling and administrative costs (1 500 000)Fixed selling and administrative costs (500 000)Net profit 2 250 000 Statement of Financial Position for the year ended 31 December 2022ASSETS RNon-current assets 800 000Property, plant and equipment 800 000 Current assets 3 400 000Inventories 1 600 000Accounts receivable 600 000Cash 1 200 000TOTAL ASSETS 4 200 000 EQUITY AND LIABILITIESEquity 3 760 000 Current liabilities 440 000Accounts payable 440 000TOTAL ASSETS AND LIABILITIES 4 200 000 Additional informationA. The sales budget for 2023 is as follows:First Quarter Second Quarter Third Quarter Fourth QuarterR2 625 000 R2 750 000 R2 875 000 R2 750 000 B. 90% of sales is collected in the quarter of the sale and 10% in the quarter…
practice please help with formula
Consider the following income statement: Sales Costs Depreciation Taxes Calculate the EBIT. EBIT $748,168 486,752 110,700 Net income 23% Calculate the net income.
Direction: Answer the problem below and forecasts the income statement using percent of sales method. (Please refer to the picture)
Please help me with correct answer thanku
Perform a vertical analysis...
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Compute the gross margin considering the following information from Kelly's Kandles. Sales $133,200 Selling Expenses 13,500 General and Administrative 16,100 Expenses Net income before tax 49,700 Net income 40,100