Rose Corporation's gross profit in 2023 was $800,000. If the cost of goods sold was 75% of sales, sales must have been A. $1,600,000 B. $2,400,000 C. $3,200,000 D. $4,000,000
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- The following information is available for Cooke Company for the current year: The gross margin is 40% of net sales. What is the cost of goods available for sale? a. 5840,000 b. 960,000 c. 1,200,000 d. 1,220,000For 2021, Hamilton Company had Sales of $5,700,000 and Cost of Goods Sold of $3,600,000. For 2020, Hamilton Company had Sales of $4,800,000 and Cost of Goods Sold of $2,900,000. a. What was the Cost of Goods Sold as a percent of Sales for 2021? b. What was the Cost of Goods Sold as a percent of Sales for 2020? c. Did Hamilton show improvement from 2020 to 2021? d. Is this an example of horizontal or vertical analysis?ff1
- Robbins Corporation reports the following information at December 31, 2020: Sales $15,000,000, Cash $3,000,000, Unearned Revenues $400,000, Dividends $1,000,000, Cost of Goods Sold $8,500,000. What is Robbins Corporation's Gross Margin?Mbi inc. had sales of $900 million for fiscal 2019. Solve this questionThe following comparative information is available for Blossom Company for 2025. LIFO FIFO Sales revenue $89,000 $89,000 Cost of goods sold 37,000 29,000 Operating expenses (including depreciation) 27,000 27,000 Depreciation 10,000 10,000 Cash paid for inventory purchases 20,750 20,750 (a) Determine net income under each approach. Assume a 30% tax rate. LIFO Net income $ FIFO
- The following comparative information is available for Larkspur, Inc. for 2022. LIFO FIFO Sales revenue $91,000 $91,000 Cost of goods sold 40,000 31,600 Operating expenses (including depreciation) 27,000 27,000 Depreciation 10,000 10,000 Cash paid for inventory purchases 18,920 18,920 Determine net income under each approach. Assume a 30% tax rate. Net income $ LIFO FIFO Determine net cash provided by operating activities under each approach. Assume that all sales were on a cash basis and that income taxes and operating expenses, other than depreciation, were on a cash basis. Net cash provided by operating activities LIFO FIFO $ Calculate the quality of earnings ratio under each approach. (Round answers to 2 decimal places, e.g. 5.15.) LIFO Quality of earnings ratio FIFOSmith Corporation had Sales of $2,350,000 in 2021 and $2,125,000 in 2020. Cost of Good Sold were $1,400,000 in 2021 and $1,325,000 in 2020. a. What was the percentage change in Sales year to year? b. What was the percentage change in Cost of Goods Sold year to year? c. Relative to the percentage in Sales, would you say the percentage change on Cost of Goods Sold was favorable or unfavorable? d. Is this an example of horizontal or vertical analysis?During 2020, Bramble Co. generated revenues of $102000. The company’s expenses were as follows: cost of goods sold of $41000, operating expenses of $16000 and a loss on the sale of equipment of $2700.Bramble’s gross profit is $42300. $45000. $102000. $61000.
- Rappaport Corp.'s sales last year were $375,000, and its net income after taxes was $23,000. What was its profit margin on sales? Select the correct answer. a. 6.19 % b. 6.21 % c. 6.17 % d. 6.13 % e. 6.15 %ACTIVITY 1. MULTIPLE CHOICE wblupi moit boog aamoz a adT Directions: Encircle the letter of the correct answer. 1. MCL Company has a total quick asset of P100,000.00 and quick ratio of 10. How much is the current liabilities of the entity? a. P1,000,000.00 b. P1,100,000.00 c. P900,000.00 d. P10,000.00 2. If the company's net sales is P250,000.00 and the average accounts receivable is P50,000.00, what is the A/R turnover ratio? c. P200,000.00 m d. P300,000.00 a. 5 To Coubrc bns 00.000,000 3. From a current ratio of 4 in 2018, the current ratio of the company is 5 in 2019. b. 1/5 a. This is something good from a liquidity standpoint. b. This is something bad from a liquidity standpoint c. This data has no implication on the liquidity status of the company. d. All of the above.Calculate it's gross profit?