Paradise Company reports the following information at December 31, 2012: Sales $ 1,80,00,000 Cash 30,00,000 Salaries payable 4,00,000 Dividends 10,00,000 1,25,00,000 Cost of sales What is Natural Company's Gross Profit? a. $6,100,000 b. $6,500,000 c. $5,500,000 d. $12,000,000
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- 7.The following data were available for ABC Corp at Dec 31, 20X2:Net purchases P345,000Inventory, Dec 31 P11,000Gross Sales, 446,250Sales returns, P10,000Gross profit is 25% of costHow much was the cost of sales during the year? 109,063 111,563 349,000 357,000The income statement of Carlson Company for the year ended March 31,2012 are as follows: (in million of pesos) 2012 2011 Sales P 320.5 P305.4 Cost of sales 274.1 253.9 Gross profit 46.4 51.5 Distribution costs 11.6 10.4 Administrative expenses 22.6 23.5 Other operating income 4.5 6.4 Earnings before interest and taxes 16.7 24.0 .Interest charges 1.9 4.3 .Earnings before taxes 14.8 19.7 Which of the following is correct?a. The company sold more goods by volume in 2012 than in 2011.b. The gross margin as a percentage of sales was higher in 2012 than in 2011.c. The increase in distribution costs in 2012 over and above the 2011 amount isdue to the higher sales turnover.d. The net profit margin as a percentage of sales fell in 2012 and about 2/3 ofthe 2011 level.Problem: The financial statements of Muscat Company appear below: MUSCAT COMPANY Income Statement For the Year Ended December 31, 2023 Net sales Cost of goods sold Gross profit \table[[$400,000de
- Fields Company presented the following data for the current year: Net sales revenue $275,000 Cost of goods sold 125,000 Operating expenses 40,000 Income tax rate 25% Determine the company's profit margin (rounded) A Select one: O O a. 33% b. 31% C. 28% d. 30%Revenue and expense data for Soldner Inc. are as follows: 2014 2013 Sales $1,500,000 $1,450,000 Cost of goodssold 930,000 812,000 Selling expenses 210,000 261,000 Administrative expenses 255,000 232,000 Income tax expense 52,500 72,500 a. Prepare an income statement in comparative form, stating each item for both 2014 and 2013 as a percent of sales. Round to one decimal place. b. Comment on the significant changes disclosed by the comparative income statement.Jester Corporation's most recent income statement appears below: Sales (all on account) Cost of goods sold Gross margin Selling and administrative expense Net operating income Interest expense Net income before taxes Income taxes (30%) Net income Multiple Choice O The beginning balance of total assets was $190,000 and the ending balance was $187,200. The return on total assets is closest to: O 23.9% Income Statement 22.3% 16.7% 31.8% $ 250,000 145,000 105,000 45,000 60,000 15,000 45,000 13,500 $ 31,500
- Dr. Zhivago Diagnostics Corporation's income statement for 20X1 is as follows: $ 2,390,000 1,400,000 Sales Cost of goods sold Gross profit Selling and administrative expense Operating profit Interest expense Income before taxes. Taxes (30%) Income after taxes a. Compute the profit margin for 20X1. Note: Input the profit margin as a percent rounded to 2 decimal places. Profit margin $ 990,000 352,000 $ 638,000 52,700 $585,300 175,590 $ 409,710 b. Assume that in 20X2, sales increase by 10 percent and cost of goods sold increases by 20 percent. The firm is able to keep all other expenses the same. Assume a tax rate of 30 percent on income before taxes. What is income after taxes and the profit margin for 20X2? Note: Input the profit margin as a percent rounded to 2 decimal places. Income after taxes Profit margin 20X2I need provideRevenue and expense data for Rogan Technologies Co. are as follows: 20Y8 20Y7 Sales $701,000 $610,000 Cost of goods sold 434,620 347,700 Selling expenses 105,150 103,700 Administrative expenses 119,170 122,000 Income tax expense 21,030 12,200 a. Prepare an income statement in comparative form, stating each item for both 20Y8 and 20Y7 as a percent of sales. If required, round percentages to one decimal place. Enter all amounts as a positive number. Rogan Technologies Co. Comparative Income Statement For the Years Ended December 31, 20Y8 and 20Y7 20Y8 Amount 20Y8 Percent 20Y7 Amount 20Y7 Percent $fill in the blank 6de34503cfdf061_2 fill in the blank 6de34503cfdf061_3% $fill in the blank 6de34503cfdf061_4 fill in the blank 6de34503cfdf061_5% fill in the blank 6de34503cfdf061_7 fill in the blank 6de34503cfdf061_8% fill in the blank 6de34503cfdf061_9 fill in the blank 6de34503cfdf061_10% Gross profit $fill in the blank…
- Accounting BONUS MARK: A small manufacturing firm, 'G&N Ltd' makes whistles. During November 2,600 whistles were manufactured and 1,450 whistles were sold. Data from the November report are shown below. %24 Selling expenses 25,340 Direct labour 37,752 Interest expense 7,135 Manufacturing 32,760 overhead Direct materials 61,464 Administrative 19,675 expensesPlease solve this provideThe following income statement appears in the financial report of MERCADO Company for the year ending December 31, 2020: MERCADO Company Income Statement For the year ending December 31. 2020 Sales 72,485,000.00 Cost of goods sold Gross profit 39.866,750.00 32.618.250.00 Less: Operating expenses: Variable selling expenses: Salesmen's commissions 3,624,250.00 Communication expenses 1,812.125.00 Advertising and promotion 635.350.00 Representation expenses 215.385.00 Gas and oil - salesmen 1,285.000.00 Repairs and maintenance 1,150.000.00 3.722.110.00 Fixed selling expenses Salaries and wages 4,225,000.00 Franchises and royalties 524,150.00 Office supplies and materials 555.000.00 Depreciation 963 300.00 6.267,450.00 14.989,560.00 Fixed administrative expenses Salaries and wages 6.324,650.00 Employee benefits 316,490.00 Communications expenses 335,125.00 Office supplies and materials 275,150.00 Depreciation 325,500.00 104 250.00 7.681,165.00 9.947.525.00 Miscellaneous expenses Operating…
