Cost of goods sold: Chocss) 199 865,000 $58,400 Ending inventory: 11.2% $34,000 Operating income: $124,000 8% $435,000 Income tax expense: $399,000 $365,000 $430,000 53% Gross profit ratio: $401,000 $10,400 $385,000 $29,000
Cost of goods sold: Chocss) 199 865,000 $58,400 Ending inventory: 11.2% $34,000 Operating income: $124,000 8% $435,000 Income tax expense: $399,000 $365,000 $430,000 53% Gross profit ratio: $401,000 $10,400 $385,000 $29,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
49
![Average tax rate
16%
Cost of goods sold:
Choces]
199
865,000
$58,400
Ending inventory:
11.2%
$34,000
Operating income:
$124,000
8%
$435,000
Income tax expense:
$399,000
$365,000
$430,000
53%
Gross profit ratio:
$401,000
$10,400
$385,000
$29,000
• Previous](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F9a648848-7142-4e8a-9ff5-a406715fad2c%2Faf10d778-7c06-4923-a92c-44fccf470698%2Fl11fzk5_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Average tax rate
16%
Cost of goods sold:
Choces]
199
865,000
$58,400
Ending inventory:
11.2%
$34,000
Operating income:
$124,000
8%
$435,000
Income tax expense:
$399,000
$365,000
$430,000
53%
Gross profit ratio:
$401,000
$10,400
$385,000
$29,000
• Previous
![Use the following to answer these questions
Net Sales
$775,000
Gross profit
$410,000
Beginning inventory
$25,000
Purchases
$374,000
Operating expense
$345,000
Average tax rate
16%
Cost of goods sold:
[Choose]
[Choose ]
Ending inventory:
Mac](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F9a648848-7142-4e8a-9ff5-a406715fad2c%2Faf10d778-7c06-4923-a92c-44fccf470698%2Fn9akwbk_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Use the following to answer these questions
Net Sales
$775,000
Gross profit
$410,000
Beginning inventory
$25,000
Purchases
$374,000
Operating expense
$345,000
Average tax rate
16%
Cost of goods sold:
[Choose]
[Choose ]
Ending inventory:
Mac
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