None 12 Sales3 Less: Cost of goods sold+ Gruss marginThis Year$950,000.00Last Year$900,000.00(500,000.00) (490,000.00)$450,000.00$410,000.005 Less operating expenses:6 Selling and Administrative expenses(275,000.00)(260,000.00)7 Operating income$175,000.00$150,000.008 Less:9Interest expense(12.000.00)(18.000.00)10 Net income before taxes$163,000.00$132,000.0011 Less:n12 Income taxes(65,200.00)(52,800.00)13 Net income after taxes$97,800.00$79,200.0014 Less:15 Dividends16Net income, retained(27,800.00)(19,200.00)$70,000.00$60,000.00Required:1. Compute the percentage change for each item on the following financial statements:A balance sheetB. income statement2. CONCEPTUAL CONNECTION Comment on any significant trends.

pearson Corporations financial performance improved significantly, with notable increases in…

Answered: 1 2 Sales 3 Less: Cost of goods sold +…

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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Use the following to answer questions 30 – 35 Find the missing amounts: Case 1 Case 2 Case 3 Net Sales S687,000 $922,500 COGS ? 478,500 654,000 Gross profit 324.100 456.000| Operating expense 299,500 354,200 Operating income ? ? 94.500 30. $ sold For case 1, determine cost of goods 31. $ For case 1, determine operating income (include “-“ if needed) 32. $ For case 2, determine gross profit 33. $ (include For case 2, determine operating income “_“ if needed) 34. $ For case 3, determine net sales 35. $ For case 3, determine operating expense
Cost of goods sold $445000 Income tax expense 66000 Operating expenses 341000 Sales 1000000 The profit margin would be 55.5%. 14.8%. 44.5%. 21.4%.
7:33 Manero Company included the following information in its annual report: Sales Cost of goods sold Operating expenses Operating income Multiple Choice 20X3 $178,400 115,000 50,000 13,400 O In comparison to year 20X2 the increase in operating income of 20X3 was primarily caused by (ignore taxes): the effect of margin growth. 20X2 $162,500 102,500 50,000 10,000 the effect of sales growth. 20X1 $155,500 100,000 45,000 10,500 the answer cannot be derived from the information provided. the effect of cost of goods sold growth.
1. Year one income statement by months ( sales by year 3 $2.7m 2.7 m /3 = $900,000 average each year sales 900,000 / 12 = $75,000 sales each month Revenues: Net sales $75,000 each month Expenses and loses Costs of goods sold 1,786 x $15.60 = $27,863.78 Capital expenses $1,150 / 12= $95.83 Location expenses $76,415/ 12 = $6,367.92 Advertising / Promotional expenses $78,285/ 12 = $6,523.75 CalculateTotal expenses Depreciation expense is straight line for this project ?. Use the market value of the asset divided by monthly expected life of the asset, We will not use salvage value in calculating depreciation expense.
7. I do not understand how to find the dollar amounts for these questions with the numbers given: Compute the $ based on these percentages Net Sales $46,710Gross Profit: $21,479Net Income: $6,046Total Selling and Administrative Expense: $14, 804 a)Cost of Goods 54.0% = $ Amountb)Gross Margin Percentage 46.0% = $ Amountc)SG&A Expense Percentage 31.7% = $ Amountd)Operating Profit Margin Percentage 14.2% = $ Amounte) Net Profit Margin (After Taxes) 12.9% = $ Amount If you could provide the formulas used it would be a big help, again the percents are already there I need to find the dollar amount the percents reflect.
22 Calculate the missing amounts. a b d e Net sales Cost of goods sold Gross profit from sales Operating expenses Profit (loss) $ 208,800 $ 165,000 $ 73,800 41,600 303,000 205,600 108,200 75,200 91,600 93,000 106,000 (31,000) (5,900) 57,000 (28,400)
Cost of Gross Operating Expenses Net Sales Net Profit ($) Goods Sold Margin ($) $336,500 $132,200 $4 $109,000
Units Sold Sales Variable Expenses Fixed Expenses Net Income (LOSS) Contribution Margin Per Unit Case 1 $425,000 $ $150,000 $0 $12.50 Case 2 20 $150,000 $112,500 $17,500 $
The following data relates to Campus Goods Inc: Amount in $ Revenue 400000 Operating Profit 20% cost of good sold 55% Operating Expense ( as % of revenue ) 25% Required: Based on the above data determine the following: 8A. Cost of Goods Sold in $ is ___________. 250,000 100,000 150,000 220,000 8B. Gross Profit in $ and % is ___________ and ___________ respectively. 250,000 and 20% 180,0000 and 40% 180,000 and 45% 220,000 and 45% 8C. Operating expenses is ___________. 100,000 150,000 200,000 120,000 8D. Operating profit in $ is ___________. 55,000 65,000 80,000 70,000
15. Sales revenue P480,000 Cost of goods sold Sales discounts 300,000 20,000 15,000 Sales returns and allowances Operating expenses 85,000 Interest revenue 5,000 A.What is net sales revenue? a. P400,000 b. P445,000 P415,000 d. P455,000 с. B.What is gross margin? а. Р145,000 b. P105,000 C. P140,000 d. P90,000
Sales Revenue Purchases Gross Profit Selling Expenses Admin Cost Operating Loss GBP 18,600 (18,200) 400 (200) (620) (420) c) Using the information above, calculate mark-up (in percentage to 1 decimal place). d) Using the information above, calculate the margin as a % to 2 decimal places. e) Using the information above, what is the operating profit margin percentage if the admin cost is reduced by 50%? Show this to nearest whole percentage.
the Sales Cost ( 350000)$ , Sales ( 990000)$ , Ind. Marketing ( f. ) ( 120000)$ Ind. Exp. ( f.) ( 150000)$. Ad. Cost ( 220000)$. Net profit ( using variable Cost )

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