Calculate the net income for a company given the following information: Revenue: $50,000 Cost of Goods Sold: $20,000 • Operating Expenses: $10,000 • Interest Expense: $2,000 Tax Rate: 25%
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- Assume Martinez Company has the following reported amounts: Sales revenue $ 610,000, Sales returns and allowances $ 30,000, Cost of goods sold $ 396,500, and Operating expenses $ 84,000. (a) Compute net sales. Net sales (b) Compute gross profit. Gross profit (c) Compute income from operations. Income from operations (d) Compute the gross profit rate. (Round answer to 1 decimal place, e.g. 25.2%.) Gross profit rate %24Using the financial information presented below: Operating Expenses $ 55,000 Sales Returns and Allowances 13,000 Sales Discount 6,000 Sales 160,000 Costs of Goods Sold 77,000 What would the amount of net sales on the income statement would be and what would the profit margin rate be?If cost of goods sold is $520,000 and the gross profit rate is 20%, what is the gross profit? Select one: a. $2,600,000. b. $130,000. c. $ 520,000. d. $416,000.
- Calculate the gross and net profits (in $) and the two profit margins (as %s) for the given company. (Round profit margins to the nearest tenth of a percent.) Company Net Sales Cost ofGoods Sold GrossProfit OperatingExpenses Net Profit Gross ProfitMargin (%) Net ProfitMargin (%) an optometry store $327,735 $201,655 $ $83,921 $ % %Use the Financial information is presented below to determine the Gross Profit: Operating expenses $ 40,000 Sales revenue 200,000 Cost of goods sold 150,000 a. $160,000.b. $ 40,000.c. $ 50,000.d. $ 10,000.A company has the following financial information: net sales $500,000, cost of goods sold $300,000, operating expenses $100,000, and other income $10,000. Calculate the gross profit margin and the operating profit margin.
- XYZ Company had the following information: Net Sales $1,000,000, Beginning Inventory $200,000, Purchases $600,000, Ending Inventory $150,000, and Gross Profit Rate 40%. Calculate the cost of goods sold and the gross profit for the year.Financial information for Sandhill Company is presented below: Operating Expenses $ 59000Net Sales 250000Cost of Goods Sold 137000 The gross profit rate would be 0.216.0.452.0.548.0.784.Using the financial information is presented below: Operating Expenses $ 55,000 Sales Returns and Allowances 13,000 Sales Discount 6,000 Sales 160,000 Costs of Goods Sold 77,000 The gross profit rate would be:
- Accounting XYZ Company had the following information: Net Sales $1,000,000, Beginning Inventory $200,000, Purchases $600,000, Ending Inventory $150,000, and Gross Profit Rate 40%. Calculate the cost of goods sold and the gross profit for the year.Calculate the Gross Profit Percentage using the following information: Net Sales Cost of Goods Sold Operating Expenses Income Taxes 60% 32.5% 30% 120% 5,000,000 2,000,000 500,000 875,000XYZ Company has the following information for the year: Sales revenue: $500,000 Cost of goods sold: $200,000 Operating expenses: $100,000 Other income: $10,000 Tax rate: 25% Calculate the company's operating income and net income for the year.