Consider the following condensed Income Statement: Sales COGS 2022 $12,500,000 9,750,000 Gross Profit 2,750,000 Sales growth in 2023 is expected to be 12%. If COGS is assumed to vary directly with sales, then Gross Profit for 2023 will be
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Gross profit for 2023 will be?
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- NoneUsing data available in the case, calculate the annual growth rate from 2020 to 2021 (in percentages). All calculations should be rounded to two decimals (e.g., 12.77%). > Answer is complete but not entirely correct. 2021 2020 2020-2021 Revenue 2,057,622 1,736,432 18.50 % Cost of Goods Sold 1,259,830 921,980 36.64 % Gross Profit 797,792 814,452 (1.02) % Operating Expenses 789,795 570,245 38.50 % Operating Income 7,997 244,207 2,953.73% Net Income 14,553 191,960 (92.42) %General accounting question
- Suppose a firm has had the following historic sales figures. Year: 2016 2017 2018 2019 2020 Sales $1,530,000 $1,720,000 $1,560,000 $2,100,000 $1,850,000 What would be the forecast for next year’s sales using FORECAST.ETS to estimate a trend? Note: Round your answer to the nearest whole dollar.SolutionSuppose a firm has had the following historic sales figures. Year: 2016 2017 2018 2019 2020 Sales $1,500,000 $1,670,000 $1,580,000 $2,160,000 $1,890,000 What would be the forecast for next year's sales using FORECAST.ETS to estimate a trend? Note: Round your answer to the nearest whole dollar. Next year's sales