Please refer to the sample and paraphrase the revenue and gross profit. Changing the company name to Newmont Corporation. Please write a close word count to the sample. Thanks! Income Statement-SampleRevenue- Revenue is defined as the money coming in that a business has due to sales of goodsand services to customers. Revenue can also be referred to as sales or turnover. Total revenue forPatagonia Gold includes the total receipts from sales of a given quantity of goods or services.This allows for the total income of Patagonia to be calculated by multiplying the quantity ofgoods sold by the price of goods. A major portion of revenue for Patagonia Gold comes from theopening of new mines and faci;lities which they have done over the last three years. In 2019,Patagonia Gold acquired the Martha Mine property from Hunt Mining Corp, allowing forrevenue to increase due to increases of silver and gold recovery. Revenue increased 50% from2017 at $30.5 million to $62.6 million in 2019, showing risk and reward economic growth. Costsof revenue are calculated from all manufacturing and delivering of the given product or serviceto customers. Like the total revenue, the cost of revenue has also increased by 50%. In 2017 at$21 million to $44.7 million in 2019.Gross Profit- Gross profit represents the amount of money that Patagonia Gold has generatedover the cost of producing its goods, given a time period of 2017 to 2019. The gross profit forPatagonia Gold increased over the three year period, due to the company gaining a new andpositive profit from the new mining site. Cost of sales includes the costs of mining equipment,site facilities, transportation of goods, and packaging prices for the goods. Equipment for miningaccounts for the largest portion of costs of sales. Gross profit over the three year period had apositive increase from $9.5 million to $17.8 million.

Revenue refers to the amount of money earned by an entity in a desired period of time from its…

Answered: Please refer to the sample and…

Please refer to the sample and paraphrase the revenue and gross profit. Changing the company name to Newmont Corporation. Please write a close word count to the sample. Thanks!

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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