Use the following to answer questions 34 – 39 ST reports the following income statement results: $700,000 221,575 48,800 25,000 282,825 Sales Operating expense Net income Sales returns & allowances Gross profit Interest expense 250 34. $ Calculate Net sales: 35. $ Calculate Cost of Goods Sold $ Calculate operating 36. income
Use the following to answer questions 34 – 39 ST reports the following income statement results: $700,000 221,575 48,800 25,000 282,825 Sales Operating expense Net income Sales returns & allowances Gross profit Interest expense 250 34. $ Calculate Net sales: 35. $ Calculate Cost of Goods Sold $ Calculate operating 36. income
Financial Management: Theory & Practice
16th Edition
ISBN:9781337909730
Author:Brigham
Publisher:Brigham
Chapter2: Financial Statements, Cash Flow,and Taxes
Section: Chapter Questions
Problem 15P: Use the following income statement of Elliott Game Theory Consulting to determine its net operating...
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What the answer for 34,35
34. Not 392,175
35. Not 61,250
![Use the following to answer questions 34 – 39
ST reports the following income statement results:
S700,000
221,575
48,800
Sales
Operating expense
Net income
Sales returns & allowances
25,000
Gross profit
282,825
Interest expense
250
34. $
Calculate Net sales:
35.
$
Calculate
Cost
of
Goods
Sold
$
Calculate
operating
36.
income
37. $
Calculate Income before Income tax
(IBT)
%.
Calculate
the gross profit
38.
margin
(one decimal place)
%.
Calculate the net profit margin (one
39.
decimal place)](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fb7a7927e-cfac-4fb1-82c1-a1963b0b5a6b%2F0dcbfb48-62f4-4d16-9229-83b661c03abb%2Fhzoo9j_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Use the following to answer questions 34 – 39
ST reports the following income statement results:
S700,000
221,575
48,800
Sales
Operating expense
Net income
Sales returns & allowances
25,000
Gross profit
282,825
Interest expense
250
34. $
Calculate Net sales:
35.
$
Calculate
Cost
of
Goods
Sold
$
Calculate
operating
36.
income
37. $
Calculate Income before Income tax
(IBT)
%.
Calculate
the gross profit
38.
margin
(one decimal place)
%.
Calculate the net profit margin (one
39.
decimal place)
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