Shannon Enterprises reports the following information on its year-end income statement: Net Sales: $180,000, Operating Expenses: $40,000, Cost of Goods Sold: $110,000, and Other Income: $25,000 Calculate Shannon's gross profit percentage and return on sales ratio. (Round answer to one decimal place.)
Shannon Enterprises reports the following information on its year-end income statement: Net Sales: $180,000, Operating Expenses: $40,000, Cost of Goods Sold: $110,000, and Other Income: $25,000 Calculate Shannon's gross profit percentage and return on sales ratio. (Round answer to one decimal place.)
Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Chapter15: Financial Statement Analysis
Section: Chapter Questions
Problem 38E: Sundahl Companys income statements for the past 2 years are as follows: Refer to the information for...
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