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NINO'S PIZZERIA Adjusted Trial Balance Year Ended December 31, 2019 Debit Credit $ 775,984 45,688 Cash Accounts Receivable 200,460 Buildings Merchandise Inventory Accounts Payable Common Stock 135,624 $437,880 410,542 555,696 84,652 86,900 Sales Interest Revenue Rent Revenue 24,500 Sales Salaries Expense Office Supplies Expense Sales Discounts 6,270 102,890 Interest Expense Sales Returns and Allowances Cost of goods sold Rent Expense Depreciation Expense: Office Equipment Insurance Expense Advertising Expense Totals 4,577 105,854 122,853 20,000 10,555 2,780 17,635 $1,575,670 $1,575,670 PA10 continued.. A. Use the data provided to compute net sales for 2019. B. Compute the gross margin for 2019. C. Compute the gross profit margin ratio (rounded to nearest hundredth). D. Prepare a simple income statement for the year ended December 31, 2019. E. Prepare a multi-step income statement for the year ended December 31, 2019.

NINO'S PIZZERIA Adjusted Trial Balance Year Ended December 31, 2019 Debit Credit $ 775,984 45,688 Cash Accounts Receivable 200,460 Buildings Merchandise Inventory Accounts Payable Common Stock 135,624 $437,880 410,542 555,696 84,652 86,900 Sales Interest Revenue Rent Revenue 24,500 Sales Salaries Expense Office Supplies Expense Sales Discounts 6,270 102,890 Interest Expense Sales Returns and Allowances Cost of goods sold Rent Expense Depreciation Expense: Office Equipment Insurance Expense Advertising Expense Totals 4,577 105,854 122,853 20,000 10,555 2,780 17,635 $1,575,670 $1,575,670 PA10 continued.. A. Use the data provided to compute net sales for 2019. B. Compute the gross margin for 2019. C. Compute the gross profit margin ratio (rounded to nearest hundredth). D. Prepare a simple income statement for the year ended December 31, 2019. E. Prepare a multi-step income statement for the year ended December 31, 2019.

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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I need help ONLY with D and E please.
Chapter 6 Problem Set A MAILINGS REVIEW VIEW PAGE LAYOUT REFERENCES 令=,=。,EE|21 AaBbCcI AaBbCcI AaBbC AaBb A A Aa - Headi 三, , T Normal 1 No Spac... Heading 1 A - ay , A - Paragraph Font NINO'S PIZZERIA Adjusted Trial Balance Year Ended December 31, 2019 Debit Credit $ 775,984 45,688 200,460 Cash Accounts Receivable Buildings Merchandise Inventory Accounts Payable Common Stock 135,624 $437,880 410,542 555,696 84,652 Sales Interest Revenue Rent Revenue 86,900 Sales Salaries Expense Office Supplies Expense Sales Discounts 24,500 6,270 102,890 Interest Expense Sales Returns and Allowances Cost of goods sold Rent Expense Depreciation Expense: Office Equipment Insurance Expense Advertising Expense 4,577 105,854 122,853 20,000 10,555 2,780 17,635 Totals $1,575,670 $1,575,670 PA10 continued... A. Use the data provided to compute net sales for 2019. B. Compute the gross margin for 2019. C. Compute the gross profit margin ratio (rounded to nearest hundredth). D. Prepare a simple income statement for the vear ended December 31, 2019. E. Prepare a multi-step income statement for the year ended December 31, 2019.
Transcribed Image Text:Chapter 6 Problem Set A MAILINGS REVIEW VIEW PAGE LAYOUT REFERENCES 令=,=。,EE|21 AaBbCcI AaBbCcI AaBbC AaBb A A Aa - Headi 三, , T Normal 1 No Spac... Heading 1 A - ay , A - Paragraph Font NINO'S PIZZERIA Adjusted Trial Balance Year Ended December 31, 2019 Debit Credit $ 775,984 45,688 200,460 Cash Accounts Receivable Buildings Merchandise Inventory Accounts Payable Common Stock 135,624 $437,880 410,542 555,696 84,652 Sales Interest Revenue Rent Revenue 86,900 Sales Salaries Expense Office Supplies Expense Sales Discounts 24,500 6,270 102,890 Interest Expense Sales Returns and Allowances Cost of goods sold Rent Expense Depreciation Expense: Office Equipment Insurance Expense Advertising Expense 4,577 105,854 122,853 20,000 10,555 2,780 17,635 Totals $1,575,670 $1,575,670 PA10 continued... A. Use the data provided to compute net sales for 2019. B. Compute the gross margin for 2019. C. Compute the gross profit margin ratio (rounded to nearest hundredth). D. Prepare a simple income statement for the vear ended December 31, 2019. E. Prepare a multi-step income statement for the year ended December 31, 2019.
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