Items 20 through 24 are based on the following: The management of Bataan Corporation asked you to submit an analysis of the increase in their gross profit in 2021 based on their past two-year comnparative income statements which show: 2020 P1,000,000 800,000 P 200,000 2021 Sales P1,237,500 Cost of sales 950,000 P 287 000 Gross profit The only known factor given to you is the sales price increased 12.5% beginning January 2021.

Items 20 through 24 are based on the following: The management of Bataan Corporation asked you to submit an analysis of the increase in their gross profit in 2021 based on their past two-year comnparative income statements which show: 2020 P1,000,000 800,000 P 200,000 2021 Sales P1,237,500 Cost of sales 950,000 P 287 000 Gross profit The only known factor given to you is the sales price increased 12.5% beginning January 2021.

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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