Use this income statement to answer the following questions. Sales ($50 per unit) $5,000 Less: Cost of goods sold ($33 per unit) 3,300 Gross margin 1,700 Less operating expenses: Salaries $800 Advertising 400 Shipping ($2 per unit) 200 1,400 Operating Income $300 How many units would the company need to sell to earn $1,560 in net income if the tax rate is 20%? (Round answer to the nearest whole units.) Units required to meet target Enter a number of units required to meet target rounded to the nearest wholeEnter a number of units required to meet target rounded to the nearest wholeEnter a number of units required to meet target rounded to the nearest whole unit
Use this income statement to answer the following questions. Sales ($50 per unit) $5,000 Less: Cost of goods sold ($33 per unit) 3,300 Gross margin 1,700 Less operating expenses: Salaries $800 Advertising 400 Shipping ($2 per unit) 200 1,400 Operating Income $300 How many units would the company need to sell to earn $1,560 in net income if the tax rate is 20%? (Round answer to the nearest whole units.) Units required to meet target Enter a number of units required to meet target rounded to the nearest wholeEnter a number of units required to meet target rounded to the nearest wholeEnter a number of units required to meet target rounded to the nearest whole unit
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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EC 3 Q2
Use this income statement to answer the following questions.
| Sales ($50 per unit) | $5,000 | |||
| Less: Cost of goods sold ($33 per unit) | 3,300 | |||
| Gross margin | 1,700 | |||
| Less operating expenses: | ||||
| Salaries | $800 | |||
| Advertising | 400 | |||
| Shipping ($2 per unit) | 200 | 1,400 | ||
| Operating Income | $300 |
How many units would the company need to sell to earn $1,560 in net income if the tax rate is 20%? (Round answer to the nearest whole units.)
| Units required to meet target | Enter a number of units required to meet target rounded to the nearest wholeEnter a number of units required to meet target rounded to the nearest wholeEnter a number of units required to meet target rounded to the nearest whole unit |
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