Northbay Electronics reported net sales of $9,200,000 and net income of $1,104,000 for the fiscal year ended December 31, 2024. Using this information, calculate the Profit Margin for Northbay Electronics.
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- General accountingCalculate gross profitIn fiscal year 2021, Walmart Inc. (WMT) reported annual revenue of $572.75 billion, gross profit of $143.75 billion, and net income of $13.67 billion. Costco Wholesale Corporation (COST) had revenue of $195.9 billion, gross profit of $25.25 billion, and net income of $5.01 billion. a. Compare the gross margins for Walmart and Costco. b. Compare the net profit margins for Walmart and Costco. c. Which firm was more profitable in 2021?
- Calculate the gross profit percentageA company has the following items for the fiscal year 2020: Revenue =10 million Cost of goods sold = 3 million EBITDA = 5 million EBIT = 4 million Net income = 2 million Calculate the company’s net profit margin Write the formula for the following ratios and what each ratio measures: Current Ratio Quick RatioCreate a common-sized income statement given the following income statement data for the General Machine Truck Co. for the year ending December 31, 2021: Percent of Sales Sales $236,000 Cost of goods sold $150,980 Gross profit $85,020 Operating expenses $63,400 Operating profit $21,620 Interest expense $5,390 Pretax profit $16,230 Income taxes $4,058 Net income $12,172