Directions: Fill in the missing data in Alice's Cupcake's Statement of Comprehensive Income using the following ratios: a. Inventory turnover is 3.50. Beginning inventory was P4,250 and ending inventory was P4,050. b. Net profit margin is 11%.

Directions: Fill in the missing data in Alice's Cupcake's Statement of Comprehensive Income using the following ratios: a. Inventory turnover is 3.50. Beginning inventory was P4,250 and ending inventory was P4,050. b. Net profit margin is 11%.

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter16: Financial Statement Analysis

Section: Chapter Questions

Problem 11E

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Concept explainers

Corporate Ethics

Ethics refers to the moral values and principles that guide an individual. Corporate ethics refers to the moral behavior of a company and its employees while conducting business. Business ethics is another name for corporate ethics. Business ethics reflects the purpose of doing the business. Business ethics is the distinction between what is right and wrong in the workplace and the selection of the right set of actions. Every corporate entity follows business ethics to a large extent in order to survive and compete successfully in the market. Corporate entities that strictly adhere to business ethics gain the trust of their stakeholders and thus gain more customers. An organization follows compliance, i.e., following certain business policies, rules, procedures, and practices to deal with the problem arising from the business environment. Business ethics also ensures that they meet compliance requirements as it was connected with the activities of an organization.

Question

PLEASE FIND THE ANWER FOR A AND B

Problem 2 (Advance Computation): Alice's Cupcakes
Directions: Fill in the missing data in Alice's Cupcake's Statement of
Comprehensive Income using the following ratios:
a. Inventory turnover is 3.50. Beginning inventory was P4,250 and ending
inventory was P4,050.
b. Net profit margin is 11%.
The incomplete Statement of Financial Position of Alice's Cupcakes is given
below:
Net Sales
28,800.00
Cost of goods sold
Selling and admin expenses
Interest expense
Other Expenses
Income before taxes
7,320.00
b
600.00
5,300.00
Income tax expense
C
Net Income

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