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.) Sales Sales discounts Sales returns and allowances Net sales Cost of goods sold Gross profit from sales Selling expenses Administrative expenses Total operating expenses Profit (loss) Gross profit ratio $ 2023 Company A 256,000 2.560 153.600 51.000 17.920 25.600 % $ 2022 180,000 16,000 163,000 19.000 46.000 14.400 % 2023 Company B 1,100 5.500 57,000 48.400 25.000 29.700 % $ 2022 45.000 500 42.000 20.000 9.000 2.000
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.) Sales Sales discounts Sales returns and allowances Net sales Cost of goods sold Gross profit from sales Selling expenses Administrative expenses Total operating expenses Profit (loss) Gross profit ratio $ 2023 Company A 256,000 2.560 153.600 51.000 17.920 25.600 % $ 2022 180,000 16,000 163,000 19.000 46.000 14.400 % 2023 Company B 1,100 5.500 57,000 48.400 25.000 29.700 % $ 2022 45.000 500 42.000 20.000 9.000 2.000
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.)
Sales
Sales discounts
Sales returns and allowances
Net sales
Cost of goods sold
Gross profit from sales
Selling expenses
Administrative expenses
Total operating expenses
Profit (loss)
Gross profit ratio
2023
Company A
256.000
2.560
153.600
51.000
17.920
25.600
%
$
2022
180.000
16.000
163,000
19.000
46,000
14.400
%
2023
Company B
1,100
5.500
57.000
48.400
25.000
29.700
%
$
2022
45.000
500
42.000
20.000
2.000
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