Consider the following information of Jones Corporation over four years: 2014 2013 2012 2011 $10,000 $9,000 $ 6,160 6,840 1,840 Sales ? $7,000 Cost of Goods Sold ? ? Gross Profit 2,500 ? Gross Profit Percentage ? ? ? 22% Required: a. Calculate the missing amounts for each year. b. What does this information indicate about the company?

Consider the following information of Jones Corporation over four years: 2014 2013 2012 2011 $10,000 $9,000 $ 6,160 6,840 1,840 Sales ? $7,000 Cost of Goods Sold ? ? Gross Profit 2,500 ? Gross Profit Percentage ? ? ? 22% Required: a. Calculate the missing amounts for each year. b. What does this information indicate about the company?

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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