Explanation Given Information: It is given that Advance Auto Part’s gross margin is $ 3 , 252 , cost of goods sold is $ 3 , 242 , net income (loss) is $ 392 and income before taxes is $ 626 . Formula used: The gross margin is computed by subtracting cost of goods sold from total revenue, Gross margin = Total revenue − Cost of goods sold The equation can be reformed to compute the total revenue, Total revenue=Cost of goods sold + Gross margin The income before taxes is computed by subtracting total operating expense from gross margin, Income before taxes = Gross margin − Total operating expense The equation can be reformed to compute the operating expense, Total operating expense = Gross margin − Income before taxes The net income (loss) is computed by subtracting income tax from income before taxes, Net income ( loss ) = Income before taxes − Income tax This equation can be reformed to compute income tax, Income tax = Income before taxes − Net income ( loss ) Calculation: Consider Advance Auto Part’s gross margin is $ 3 , 252 , cost of goods sold is $ 3 , 242 , net income (loss) is $ 392 and income before taxes is $ 626

Contemporary Mathematics for Business & Consumers

8th Edition

ISBN: 9781305886803

Author: Brechner

Publisher: Cengage

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Chapter 15, Problem 4AT

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To calculate: The revenue, operating expense and income tax of Advance Auto Parts if gross margin is $3,252, cost of goods sold is $3,242, net income (loss) is $392 and income before taxes is $626.

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Chapter 15, Problem 3AT

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Chapter 15 Solutions

Contemporary Mathematics for Business & Consumers

Ch. 15.I - Use the following financial information to prepare...Ch. 15.I - Prob. 2TIE Ch. 15.I - Prob. 3TIE Ch. 15.I - Prob. 1RE Ch. 15.I - Prob. 2RE Ch. 15.I - Prob. 3RE Ch. 15.I - Prob. 4RE Ch. 15.I - Prob. 5RE Ch. 15.I - Prob. 6RE Ch. 15.I - Calculate the following values according to the...

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The revenue, operating expense and income tax of Advance Auto Parts if gross margin is $ 3 , 252 , cost of goods sold is $ 3 , 242 , net income (loss) is $ 392 and income before taxes is $ 626 .

Solution Summary: The author analyzes Advance Auto Part's gross margin, cost of goods sold, net income (loss) and income before taxes.

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To calculate: The revenue, operating expense and income tax of Advance Auto Parts if gross margin is $3,252, cost of goods sold is $3,242, net income (loss) is $392 and income before taxes is $626.

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