Sales Performance Analysis - Vista Corporation Item Sales Revenue Amount $720,000 Sales Returns and Allowances $20,000 Cost of Goods Sold $420,000 Operating Expenses $160,000 Calculate the following: a) Net sales b) Gross profit c) Income from operations d) Gross profit rate

Sales Performance Analysis - Vista Corporation Item Sales Revenue Amount $720,000 Sales Returns and Allowances $20,000 Cost of Goods Sold $420,000 Operating Expenses $160,000 Calculate the following: a) Net sales b) Gross profit c) Income from operations d) Gross profit rate

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter5: The Income Statement And The Statement Of Cash Flows

Section: Chapter Questions

Problem 2MC: The following information is available for Cooke Company for the current year: The gross margin is...

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Sales Performance Analysis - Vista Corporation
Item
Sales Revenue
Amount
$720,000
Sales Returns and Allowances $20,000
Cost of Goods Sold
$420,000
Operating Expenses
$160,000
Calculate the following:
a) Net sales
b) Gross profit
c) Income from operations
d) Gross profit rate

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Prepare the Pro-Forma Statement of Financial Position for the year ending 31 December 2023 INFORMATIONSibiya ProjectsStatement of Comprehensive Income for the year ended 31 December 2022 RSales 10 000 000Cost of sales (5 750 000)Gross profit 4 250 000Variable, selling and administrative costs (1 500 000)Fixed selling and administrative costs (500 000)Net profit 2 250 000 Statement of Financial Position for the year ended 31 December 2022ASSETS RNon-current assets 800 000Property, plant and equipment 800 000 Current assets 3 400 000Inventories 1 600 000Accounts receivable 600 000Cash 1 200 000TOTAL ASSETS 4 200 000 EQUITY AND LIABILITIESEquity 3 760 000 Current liabilities 440 000Accounts payable 440 000TOTAL ASSETS AND LIABILITIES 4 200 000 Additional informationA. The sales budget for 2023 is as follows:First Quarter Second Quarter Third Quarter Fourth QuarterR2 625 000 R2 750 000 R2 875 000 R2 750 000 B. 90% of sales is collected in the quarter of the sale and 10% in the quarter…
Net sales from Following inform sttement