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Fill in the missing data in MLBB income statement using the following ratios : a . Inventory turnover is 3.50 . Beginning inventory was P4,250 and ending inventory was P4,050 . . Net profit margin is 11 % . The incomplete Statement of Financial Position of Alice Cupcakes is given below Net Sales 28,800 Cost of goods sold ( 1 ) Selling and admin expenses 7,320 Interest expense ( 2 ) Other Expenses 600 Income before taxes 5.300 Income tax expense ( 3 ) Net Income

Fill in the missing data in MLBB income statement using the following ratios : a . Inventory turnover is 3.50 . Beginning inventory was P4,250 and ending inventory was P4,050 . . Net profit margin is 11 % . The incomplete Statement of Financial Position of Alice Cupcakes is given below Net Sales 28,800 Cost of goods sold ( 1 ) Selling and admin expenses 7,320 Interest expense ( 2 ) Other Expenses 600 Income before taxes 5.300 Income tax expense ( 3 ) Net Income

FINANCIAL ACCOUNTING
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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Fill in the missing data in MLBB income statement using the following ratios : a . Inventory turnover is 3.50 . Beginning inventory was P4,250 and ending inventory was P4,050 . . Net profit margin is 11 % . The incomplete Statement of Financial Position of Alice Cupcakes is given below Net Sales 28,800 Cost of goods sold ( 1 ) Selling and admin expenses 7,320 Interest expense ( 2 ) Other Expenses 600 Income before taxes 5.300 Income tax expense ( 3 ) Net Income
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