Which specific item of a pro forma income statement should be most expected to vary proportionately with sales? Why?

What basic relationship can we see in an income statement?

How do you calculate gross profit as a percentage of sales?

How can an investor or lender use the Gross Profit Margin Ratio to make financial contribution decisions?

What is the effect on the current period income statement and the balance sheet when inventories are written down using the lower of cost or market method? What is the effect on future period income statements and balance sheets?

Which of the following is not an element of the financial statements? A. future potential sales price of inventory B. assets C. liabilities D. equity

What is the income statement formula?

Which of the following is not a component of Net Sales?a. Sales Returns and Allowancesb. Sales Discountsc. Cost of Goods Soldd. Sales Revenue

P/V Ratio is an indicator of [A] the rate at which goods are sold [B] the volume of sales [C] the volume of profit [D] the rate of profit

What factors might call for inventory valuation at salesprices (net realizable value or market price)?