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VAN DER LINDE CORPORATION have been operating since 2011 and have not issued any new shares since its initial public offering last 2016. Shown below is the incomplete Statements of Comprehensive Income of the Corporation for the years 2019 and 2020. VAN DER LINDE CORPORATION STATEMENTS OF COMPREHENSIVE INCOME DECEMBER 31 2020 2019 Net sales ??? ??? Cost of goods sold (P825,000) ??? Gross profit ??? P717,500 Operating expenses ??? (P574,000) Operating Income ??? P143,500 Finance cost (P40,050) (P38,310) Earnings before taxes ??? P105,190 Income tax (P43,980) (P42,076) Net income ??? P63,114 Additional Information: 1. Gross profit rate for 2019 is 50%, which decreased by 5% in 2020 due to increase in cost to produce their products. 2. Income tax rate is 40%. What is the net sales in 2020? A P1,500,000 P1,833,333 P1,269,231 P1,650,000

VAN DER LINDE CORPORATION have been operating since 2011 and have not issued any new shares since its initial public offering last 2016. Shown below is the incomplete Statements of Comprehensive Income of the Corporation for the years 2019 and 2020. VAN DER LINDE CORPORATION STATEMENTS OF COMPREHENSIVE INCOME DECEMBER 31 2020 2019 Net sales ??? ??? Cost of goods sold (P825,000) ??? Gross profit ??? P717,500 Operating expenses ??? (P574,000) Operating Income ??? P143,500 Finance cost (P40,050) (P38,310) Earnings before taxes ??? P105,190 Income tax (P43,980) (P42,076) Net income ??? P63,114 Additional Information: 1. Gross profit rate for 2019 is 50%, which decreased by 5% in 2020 due to increase in cost to produce their products. 2. Income tax rate is 40%. What is the net sales in 2020? A P1,500,000 P1,833,333 P1,269,231 P1,650,000

Essentials Of Investments
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
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VAN DER LINDE CORPORATION have been operating since 2011 and have not issued any new shares since its initial public offering last 2016. Shown below is the incomplete Statements of Comprehensive Income of the Corporation for the years 2019 and 2020. VAN DER LINDE CORPORATION STATEMENTS OF COMPREHENSIVE INCOME DECEMBER 31 2020 2019 Net sales ??? ??? Cost of goods sold (P825,000) ??? Gross profit ??? P717,500 Operating expenses ??? (P574,000) Operating Income ??? P143,500 Finance cost (P40,050) (P38,310) Earnings before taxes ??? P105,190 Income tax (P43,980) (P42,076) Net income ??? P63,114 Additional Information: 1. Gross profit rate for 2019 is 50%, which decreased by 5% in 2020 due to increase in cost to produce their products. 2. Income tax rate is 40%. What is the net sales in 2020? А P1,500,000 B P1,833,333 P1,269,231 D P1,650,000
Transcribed Image Text:VAN DER LINDE CORPORATION have been operating since 2011 and have not issued any new shares since its initial public offering last 2016. Shown below is the incomplete Statements of Comprehensive Income of the Corporation for the years 2019 and 2020. VAN DER LINDE CORPORATION STATEMENTS OF COMPREHENSIVE INCOME DECEMBER 31 2020 2019 Net sales ??? ??? Cost of goods sold (P825,000) ??? Gross profit ??? P717,500 Operating expenses ??? (P574,000) Operating Income ??? P143,500 Finance cost (P40,050) (P38,310) Earnings before taxes ??? P105,190 Income tax (P43,980) (P42,076) Net income ??? P63,114 Additional Information: 1. Gross profit rate for 2019 is 50%, which decreased by 5% in 2020 due to increase in cost to produce their products. 2. Income tax rate is 40%. What is the net sales in 2020? А P1,500,000 B P1,833,333 P1,269,231 D P1,650,000
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