Financial information is presented below:Operating expenses$ 24000Sales returns and allowances8000Sales discounts3000Sales revenue162000Cost of goods sold106000The profit margin ratio would be 0.28.0.13.0.30.0.14.

Net Sales = Sales revenue - Sales discounts - Sales returns and allowances Net Sales = 162000 - 3000…

Answered: Financial information is presented…

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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Operating expenses	$ 24000
Sales returns and allowances	8000
Sales discounts	3000
Sales revenue	162000
Cost of goods sold	106000

Financial information is presented below: Operating expenses $ 24000 Sales returns and allowances 8000 Sales discounts 3000 Sales revenue 162000 Cost of goods sold 106000 The profit margin ratio would be 0.28. 0.13. 0.30. 0.14.