Directions: Fill in the missing data in Alice's Cupcake's Statement of Comprehensive Income using the following ratios: a. Inventory turnover is 3.50. Beginning inventory was P4,250 and ending inventory was P4,050. b. Net profit margin is 11%.
Directions: Fill in the missing data in Alice's Cupcake's Statement of Comprehensive Income using the following ratios: a. Inventory turnover is 3.50. Beginning inventory was P4,250 and ending inventory was P4,050. b. Net profit margin is 11%.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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PLEASE FIND THE ANWER FOR A AND B
![Problem 2 (Advance Computation): Alice's Cupcakes
Directions: Fill in the missing data in Alice's Cupcake's Statement of
Comprehensive Income using the following ratios:
a. Inventory turnover is 3.50. Beginning inventory was P4,250 and ending
inventory was P4,050.
b. Net profit margin is 11%.
The incomplete Statement of Financial Position of Alice's Cupcakes is given
below:
Net Sales
28,800.00
Cost of goods sold
Selling and admin expenses
Interest expense
Other Expenses
Income before taxes
7,320.00
b
600.00
5,300.00
Income tax expense
C
Net Income](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F7b510c3e-bfda-482b-b3d2-970653aaf200%2F87dcc447-e4c4-427a-96cf-8794e6c4d28c%2F7odyyor_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Problem 2 (Advance Computation): Alice's Cupcakes
Directions: Fill in the missing data in Alice's Cupcake's Statement of
Comprehensive Income using the following ratios:
a. Inventory turnover is 3.50. Beginning inventory was P4,250 and ending
inventory was P4,050.
b. Net profit margin is 11%.
The incomplete Statement of Financial Position of Alice's Cupcakes is given
below:
Net Sales
28,800.00
Cost of goods sold
Selling and admin expenses
Interest expense
Other Expenses
Income before taxes
7,320.00
b
600.00
5,300.00
Income tax expense
C
Net Income
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