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Use the following to answer questions 34 – 39 - ST reports the following income statement results: Sales $700,000 221,575 48,800 25,000 282,825 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 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)

Use the following to answer questions 34 – 39 - ST reports the following income statement results: Sales $700,000 221,575 48,800 25,000 282,825 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 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)

FINANCIAL ACCOUNTING
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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What questions 36,37,38,39
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)
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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