Financial information for two companies are presented below. Fill in the missing amounts. Wildhorse Company Sandhill Company Sales revenue $95,400 Sales returns and allowances $ 4,000 Net sales 81,600 150,000 Cost of goods sold 55,800 Gross profit 49,000 Operating expenses 14,680 Net income 18,000 SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO TEXT Calculate the profit margin and the gross profit rate for each company. (Round answers to 1 decimal place, e.g. 15.5%.) Wildhorse Company Sandhill Company Profit margin Gross profit rate
Financial information for two companies are presented below. Fill in the missing amounts. Wildhorse Company Sandhill Company Sales revenue $95,400 Sales returns and allowances $ 4,000 Net sales 81,600 150,000 Cost of goods sold 55,800 Gross profit 49,000 Operating expenses 14,680 Net income 18,000 SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO TEXT Calculate the profit margin and the gross profit rate for each company. (Round answers to 1 decimal place, e.g. 15.5%.) Wildhorse Company Sandhill Company Profit margin Gross profit rate
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.
Wildhorse Company Sandhill Company
Sales revenue
$95,400
Sales returns and allowances
$ 4,000
Net sales
81,600
150,000
Cost of goods sold
55,800
Gross profit
49,000
Operating expenses
14,680
Net income
18,000
SHOW LIST OF ACCOUNTS
LINK TO TEXT
LINK TO TEXT
Calculate the profit margin and the gross profit rate for each company. (Round answers to 1 decimal place, e.g. 15.5%.)
Wildhorse Company Sandhill Company
Profit margin
Gross profit rate
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