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.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
I need help ONLY with D and E please.
![Chapter 6 Problem Set A
MAILINGS
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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.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fe74cda84-d639-4dc9-8434-22f254083a27%2F8cd1ba90-c257-417a-b19a-f49cc25de921%2F32n01k_processed.jpeg&w=3840&q=75)
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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