Your answer is correct.Fill in the missing amounts.YanikNunezCompany CompanySales revenue$170,100 198450$ 9,45011340158,760Sales returns and allowancesNet sales189,000Cost of goods sold109,620113400|Gross profit$4914075,600Operating expenses27,17843470Net income$2196232,130Attempts: 1 of 3 used*(b)Calculate the profit margin and the gross profit rate for each company. (Round answers to 0 decimal places, e.g. 15%.)YanikNunezProfit margin1%1%Gross profit rate1%

Name: Your answer is correct.Fill in the missing amounts.YanikNunezCompany
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Description: Your answer is correct.Fill in the missing amounts.YanikNunezCompany CompanySales revenue$170,100 198450$ 9,45011340158,760Sales returns and allowancesNet sales189,000Cost of goods sold109,620113400|Gross profit$4914075,600Operating expenses27,17843

b) Formula to complete gross margin percentage as given below: Gross margin percentage = (Gross…

Business

Accounting

Yanik Nunez Company Company les revenue $170,100 198450 les returns and allowances $ 9,450 11340 158,760 et sales 189,000 ost of goods sold 109,620 113400 ross profit $49140 75,600 perating expenses 27,178 43470 et income 21962 32,130 Atter b) alculate the profit margin and the gross profit rate for each company. (Round answers to 0 decimal p Yanik Nunez ofit margin 1% ross profit rate 7%

Yanik Nunez Company Company les revenue $170,100 198450 les returns and allowances $ 9,450 11340 158,760 et sales 189,000 ost of goods sold 109,620 113400 ross profit $49140 75,600 perating expenses 27,178 43470 et income 21962 32,130 Atter b) alculate the profit margin and the gross profit rate for each company. (Round answers to 0 decimal p Yanik Nunez ofit margin 1% ross profit rate 7%

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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