Exercise 5-11 Calculating income statement components LO1, 5 Calculate the missing amounts. (Loss amounts should be indicated with a minus sign and input all other amounts as positive values. Do not round intermediate calculations. Round "Gross profit ratio" to 2 decimal places.) Company A Company B 2023 2022 2023 2022 Sales $ Sales discounts 265,000 2,650 $ 189,000 $ 52,900 $ 49,500 1,100 590 Sales returns and allowances 16,900 6,400 Net sales 262,350 170,650 51,210 46,500 Cost of goods sold 158,100 57,900 Gross profit from sales 51,900 49,300 22,700 Selling expenses 18,820 19,900 25,900 Administrative expenses 26,500 30,600 9,900 Total operating expenses 45,320 47,800 Profit (loss) 58,930 15,300 2,900 Gross profit ratio 39.75 % % % %
Exercise 5-11 Calculating income statement components LO1, 5 Calculate the missing amounts. (Loss amounts should be indicated with a minus sign and input all other amounts as positive values. Do not round intermediate calculations. Round "Gross profit ratio" to 2 decimal places.) Company A Company B 2023 2022 2023 2022 Sales $ Sales discounts 265,000 2,650 $ 189,000 $ 52,900 $ 49,500 1,100 590 Sales returns and allowances 16,900 6,400 Net sales 262,350 170,650 51,210 46,500 Cost of goods sold 158,100 57,900 Gross profit from sales 51,900 49,300 22,700 Selling expenses 18,820 19,900 25,900 Administrative expenses 26,500 30,600 9,900 Total operating expenses 45,320 47,800 Profit (loss) 58,930 15,300 2,900 Gross profit ratio 39.75 % % % %
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Exercise 5-11 Calculating income statement components LO1, 5
Calculate the missing amounts. (Loss amounts should be indicated with a minus sign and input all other amounts as positive
values. Do not round intermediate calculations. Round "Gross profit ratio" to 2 decimal places.)
Company A
Company B
2023
2022
2023
2022
Sales
$
Sales discounts
265,000
2,650
$
189,000
$
52,900
$
49,500
1,100
590
Sales returns and allowances
16,900
6,400
Net sales
262,350
170,650
51,210
46,500
Cost of goods sold
158,100
57,900
Gross profit from sales
51,900
49,300
22,700
Selling expenses
18,820
19,900
25,900
Administrative expenses
26,500
30,600
9,900
Total operating expenses
45,320
47,800
Profit (loss)
58,930
15,300
2,900
Gross profit ratio
39.75 %
%
%
%
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