2b) Utilizing Excel's Goal Seek function, determine the number of units that need to be sold to have a net income of $200,000 given that the price is maintained at $29.99. Do NOT round your number to the nearest unit. (1 Point) Current Sales Target Sales Price $29.99 Price $29.99 Quantity Sold 7,900 Quantity Sold Gross Income $236,921 Gross Income SO Net Income $189,536.80 Net Income SO
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- Using Goal Seek/Solver and/or What-If Scenarios based on the below income statement, calculate the following a) the sales amount in order to realize $1,200,000 of net income without changing any of the expense accounts. b) to realize $1,200,000 without changing revenues and cost of goods sold. c) What could be the best scenario to achieve NI $1,200,000.Answer the following 2 questions based on the information in the spreadsheet you created below: Year 1 Year 2 Year 3 Year 4 $ % $ % $ % $ % Net Sales $ 500,000.00 100.00% $ 540,000.00 100.00% $ 577,800.00 100.00% $ 612,468.00 100.00% Cost of goods 265,000.00 53.00% $ 283,500.00 52.50% $ 300,456.00 52.00% $ 321,545.70 52.50% Gross Margin 235,000.00 47.00% $ 256,500.00 47.50% $ 277,344.00 48.00% $ 290,922.30 47.50% Operating expenses 210,000.00 42.00% $ 226,800.00 42.00% $ 245,565.00 42.50% $ 257,236.56 42.00% Operating proft 25,000.00 5.00% $ 29,700.00 5.50% $ 31,779.00 5.50% $ 33,685.74 5.50% 1. What can Mr. Ptolemy do to achieve the gross margin percentage goal set for the third and fourth years? Hint: What factors and elements of a P & L statement affect gross margin %?(List at least 2 things) 2. What efforts should Mr. Ptolemy make in the third and…Consider the following information for a given business. Sale revenue =GHS40,000 VC per unit =GHS20 Activity level =1,000 to break even Required: 1. Determine the TFC 2. Express the contribution as a percentage of sale. 3. The company plans to sale 1,500 unit in the next period. What will be the percentage margin of safety (MoS) 4. What margin should the business employ for planning purposes? 5. What total profit should the business expect in order to achieve it's planned sales?
- Identify the activity ratio of a computer shop is its Cost of Goods Sold is P12 million and the Average Inventory is P24 million.Show your solution, analyze and interpret your answer. Compute the return on asset of AR Grocery Store if the net profit after taxes is P10 million and its total assets is P100 million. Analyze and interpret your answer.(a) Prepare a multiple-step income statement.(b) Calculate the gross profit rate and the profit margin and explain what each means.(c) Assume the marketing department has presented a plan to increase advertisingexpenses by $340 million. It expects this plan to result in an increase in both net sales and cost of goods sold of 25%. (Hint: Increase both sales revenue and sales returns and allowances by 25%.) Redo parts (a) and (b) and discuss whether this plan has merit. (Assume a tax rate of 34%, and round all amounts to whole dollars.)PLEASE, PERFORM THE EXERCISE IN EXCEL AND SHOW THE FORMULAS PLEASE, PERFORM THE EXERCISE IN EXCEL AND SHOW THE FORMULAS 10.- The company El Invierno, S.A., presents the following information for you to calculate its accounting and cash profit: Total Sales................................. $ 1'345,670.20 Cost of Sales.............................. $ 702,875.95 Operating Expenses: Wages and salaries.......... $149,516.40 Rent................................. 69,250.50 Commissions.................... 320,000.00 Depreciation.............. 114,129.32 $ 652,896.22 Sales, purchases and expenses were made in cash. Note:In the image, this is the original exercise, it is in Spanish, but it is easy to understand. Very important Note:It is necessary that you make a solution approach and then the result. Above all, to check the procedure and/or the formulas used, especially when you use excel.
- D.Insert a column called percentage contribution in an appropriate area of the spreadsheet, to display the total contribution to overall sales by each salesperson. The answer is to be formatted as percentage. e.Company policy dictates that all sales volumes exceeding nine million ($8,000, 000.00) but not exceeding ten million ($10, 000, 000.00) should receive an incentive of US $700.00, otherwise they should receive US $200.00. In an appropriate area of the spreadsheet create a heading called Special Incentive 1 and make the necessary calculations using the necessary function f.Company policy also dictates that all sales volumes exceeding ten million ($10,000, 000.00) but less than or equal to twelve million ($12, 000, 000.00) should receive a trip to any Air Jamaica destination, otherwise they should not receive a trip. In an appropriate area of the spreadsheet create a heading called Special Incentive 2 and make the necessary calculations using the necessary functionStudy the information given below and answer each of the following questions independently: 3.1 Calculate the total Marginal Income and Net Profit/Loss if all the tables are sold. 3.2 Use the marginal income ratio to calculate the break-even value. 3.3 Calculate the new total Marginal Income and Net Profit/Loss, if an increase in advertising expenseby R100 000 is expected to increase sales by 400 units.3.4 How many units must be sold if the company wishes to earn a net profit of R298 920. 3.5 Based on the expected sales volume of 2 400 units, determine the sales price per unit (expressedin rands and cents) that will enable the company to break even.2. You have the following information: Sales= JD 300 000 Net profit margin= 20%. Required: Calculate Net Income
- As a costing team member, calculate the gross profit if: Sales P6,000; Cost of Sales P5,000; Beginning Inventory P1,000; Purchases P4,000; Wages P2,000; and Office Rent P1,000?a. Loss = P2,500b. Loss = P1,500c. Profit = P2,500d. Profit = P1,000PLEASE, PERFORM THE EXERCISE IN EXCEL AND SHOW THE FORMULASPLEASE, PERFORM THE EXERCISE IN EXCEL AND SHOW THE FORMULASPLEASE, PERFORM THE EXERCISE IN EXCEL AND SHOW THE FORMULASPLEASE, PERFORM THE EXERCISE IN EXCEL AND SHOW THE FORMULAS 10.-The company El Invierno, S.A., presents the following information for you to calculate its accounting and cash profit: Total Sales................................. $ 1'345,670.20 Cost of Sales.............................. $ 702,875.95 Operating Expenses: Wages and salaries.......... $149,516.40 Rent................................. 69,250.50 Commissions.................... 320,000.00 Depreciation.............. 114,129.32 $ 652,896.22 Sales, purchases and expenses were made in cash. Note:In the image, this is the original exercise, it is in Spanish, but it is easy to understand. Very important Note:It is necessary that you make a solution approach…Question 2You are to study the following financial statements for two furniture stores andthen answer the questions which follow: Home Furnitures Comfort FurnituresRM RM RM RM Statement of Profit or LossSales 700,000 950,000Less: Cost of goods sold:Opening inventories 150,000 100,000Purchases 300,000 420,000450,000 520,000 Less: Closing inventories (115,000) (335,000) (95,000) (425,000)Gross profit 365,000 525,000Less: Expenses:Depreciation 5,000 20,000Wages & salaries 190,000 300,000Other expenses 65,000 (260,000) 50,000 (370,000)Net profit 105,000 155,000Statement of Financial PositionNon-current assetsEquipment 50,000 20,000Current assetsInventories 115,000 95,000Trade receivables 135,000 150,000Bank 25,000 275,000 12,500 257,500325,000 277,500 Equity:Opening capital 85,000 80,000Add: Net profit 105,000 155,000190,000 235,000 Less: Drawings (39,000) 151,000 (58,500) 176,500Current liabilitiesTrade payables 174,000 101,000325,000 277,500 Required: (a) Calculate the following…
