Financial Information for two companies are presented below. Fill in the missing amounts. Sales revenue Sales returns and allowances Net sales Cost of goods sold Gross profit Operating expenses Net income Marigold Corp. Swifty Corporation $74,000 Profit margin Gross profit rate 68,000 51,000 % 10,880 $ Calculate the profit margin and the gross profit rate for each company. (Round answers to 0 de Marigold Corp. Swifty Corporation % % 3,400 84,000 % 26,880 8,400
Financial Information for two companies are presented below. Fill in the missing amounts. Sales revenue Sales returns and allowances Net sales Cost of goods sold Gross profit Operating expenses Net income Marigold Corp. Swifty Corporation $74,000 Profit margin Gross profit rate 68,000 51,000 % 10,880 $ Calculate the profit margin and the gross profit rate for each company. (Round answers to 0 de Marigold Corp. Swifty Corporation % % 3,400 84,000 % 26,880 8,400
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Financial Information for two companies are presented below.
Fill in the missing amounts.
Sales revenue
Sales returns and allowances
Net sales
Cost of goods sold
Gross profit
Operating expenses
Net income
Marigold Corp. Swifty Corporation
$74,000
Profit margin
Gross profit rate
68,000
51,000
%
10,880
$
Calculate the profit margin and the gross profit rate for each company. (Round answers to 0 decimal places, e.g. 15%.)
Marigold Corp. Swifty Corporation
%
%
3,400
84,000
%
26,880
8,400
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