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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

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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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
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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