TABLE 11.10 For Problems 11.9, 11.10, and 11.11 LAST YEAR THIS YEAR Sales $ 215,000 $ 228,000 Cost of goods sold 121,000 131,000 Gross margin 94,000 97,000 Other expenses 49,000 49,000 Net income 45,000 48,000 Finished goods inventory 2,000 5,000 Work-in-process inventory 10,000 12,000 Raw material inventory 5,000 6,000 23,000 Total inventory (average for year) 17,000 Other current assets 91,000 110,000 Other assets 213,000 242,000 Total assets 321,000 375,000

TABLE 11.10 For Problems 11.9, 11.10, and 11.11 LAST YEAR THIS YEAR Sales $ 215,000 $ 228,000 Cost of goods sold 121,000 131,000 Gross margin 94,000 97,000 Other expenses 49,000 49,000 Net income 45,000 48,000 Finished goods inventory 2,000 5,000 Work-in-process inventory 10,000 12,000 Raw material inventory 5,000 6,000 23,000 Total inventory (average for year) 17,000 Other current assets 91,000 110,000 Other assets 213,000 242,000 Total assets 321,000 375,000

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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