A company had expenses other than the cost of goods sold of $51,000. Determine Sales and Gross Profit given the cost of goods sold was $25,000 and the net income was $60,000.
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- The following information is available for Cooke Company for the current year: The gross margin is 40% of net sales. What is the cost of goods available for sale? a. 5840,000 b. 960,000 c. 1,200,000 d. 1,220,000If Net Sales Revenue is $108,000, Gross profits are $28,000 and Operating expenses are $12,000. What is the Cost of Goods Sold and Net Profit or Loss? 1. COGS $38,000 and Profit $98,000 2. COGS $88,000 and Proft $10,000 3. COGS $80,000 and Proft $16,000 4. COGS $98,000 and Loss $38,000 Which step in the accounting cycle occurs prior to the preparation of the financial statements? 1. Record and post adjustments 2. Analyse transactions 3. Analyse the changes in the accounts 4. Close the accounts Bluefield Limited is considering a project that will require an initial investment of $50 000 and is expected to generate future net cash flows of $10 000 annually for years 1 to 3 and $5000 annually for years 4 to 10. The project's payback period is: 1. 4 years 2. 5 years 3. 6 years 4. 7 yearsParkside Pool reports net sales of $551,000, gross profit of $198,000, and net income of $34,000. The company's cost of goods sold is: $551,000. $232,000. $353,000. $319,000.
- o. Horner Corporation reported net sales of $150.000, cost of goods sold of $96,000, operating expenses of $35,000, other expenses of $10,000, net income of $9,000. Calculate the following values. 1. Profit margin. 2. Gross profit rate.During the year, net sales were $131,000; gross profit was $53,000; net income was $21,500; income tax expense was $5,300; and selling, general, and administrative expenses were $23,500. Required: Calculate cost of goods sold, income from operations, income before taxes, and interest expense. Income Statement Net sales Cost of goods sold Gross profit Selling, general, and administrative expenses Income from operations Interest expense Income before taxes Income tax expense Net income $ $ $ 131,000 53,000 23,500 5,300 21,500Calculate the net profit for a company given the following information: total revenue of $500,000, cost of goods sold of $200,000, operating expenses of $100,000, and taxes of $50,000.
- 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.Cupery Co. has net sales of $105,000, cost of goods sold of $70,000, and operating expenses of $20,000. What is its gross profit and its gross profit rate?If Net Sales is $10,500, Cost of Goods Sold is $5,400, Gross Profit is $5,100 and Operating Expenses are $1,800, what is the Net Income from Operations?
- 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% . .A company’s net sales were $221,100, its cost of goods sold was $75,800, and its gross profit was $145,300. Calculate the gross margin ratio.Candy Company had sales is $320,000 and cost of goods sold of $112,000. What is the gross profit margin (ratio of gross profit of sales)?