E13-5 (Algo) Calculating Component Percentages LO 13-3 Compute the component percentages for Trixy Magic's income statement below. Note: Enter your answers as a percentage rounded to 2 decimal place (i.e. 0.1234 should be entered as 12.34). Enter all answers as positive values. Net sales Cost of sales Gross margin Expenses: Selling, general, and administrative Depreciation Interest-net Total expenses Pre-tax earnings Income tax provision Net earnings TRIXY MAGIC, INCORPORATED Consolidated Statements of Earnings (in millions) % Sales Fiscal 2021 $ 48,238 31,748 16,490 $ 11,091 1,556 290 12,937 3,553 1,319 2,234 100.00 % 100.00 0.00 100.00 Fiscal 2020 $ 48,289 31,574 16,715 100.00 % $ 10,521 1,385 197 12,103 4,612 1,715 2,897 % Sales 100.00 % 100.00 0.00 100.00 100.00 % Fiscal 2019 $ 46,943 30,741 16,202 $ 9,756 1,177 155 11,088 5,114 1,895 3,219 % Sales 100.00 % 100.00 0.00 100.00 100.00 %

E13-5 (Algo) Calculating Component Percentages LO 13-3 Compute the component percentages for Trixy Magic's income statement below. Note: Enter your answers as a percentage rounded to 2 decimal place (i.e. 0.1234 should be entered as 12.34). Enter all answers as positive values. Net sales Cost of sales Gross margin Expenses: Selling, general, and administrative Depreciation Interest-net Total expenses Pre-tax earnings Income tax provision Net earnings TRIXY MAGIC, INCORPORATED Consolidated Statements of Earnings (in millions) % Sales Fiscal 2021 $ 48,238 31,748 16,490 $ 11,091 1,556 290 12,937 3,553 1,319 2,234 100.00 % 100.00 0.00 100.00 Fiscal 2020 $ 48,289 31,574 16,715 100.00 % $ 10,521 1,385 197 12,103 4,612 1,715 2,897 % Sales 100.00 % 100.00 0.00 100.00 100.00 % Fiscal 2019 $ 46,943 30,741 16,202 $ 9,756 1,177 155 11,088 5,114 1,895 3,219 % Sales 100.00 % 100.00 0.00 100.00 100.00 %

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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Question

E13-5 (Algo) Calculating Component Percentages LO 13-3
Compute the component percentages for Trixy Magic's income statement below.
Note: Enter your answers as a percentage rounded to 2 decimal place (i.e. 0.1234 should be entered as 12.34). Enter all answers
as positive values.
Net sales
Cost of sales
Gross margin
Expenses:
Selling, general, and administrative
Depreciation
Interest-net
Total expenses
Pre-tax earnings
Income tax provision
Net earnings
TRIXY MAGIC, INCORPORATED
Consolidated Statements of Earnings
(in millions)
% Sales
Fiscal 2021
$ 48,238
31,748
16,490
$
11,091
1,556
290
12,937
3,553
1,319
2,234
100.00 %
100.00
0.00
100.00
100.00 %
Fiscal 2020
48,289
31,574
$
16,715
$
10,521
1,385
197
12,103
4,612
1,715
2,897
% Sales
100.00 %
100.00
0.00
100.00
100.00 %
Fiscal 2019
$ 46,943
30,741
16,202
$
9,756
1,177
155
11,088
5,114
1,895
3,219
% Sales
100.00 %
100.00
0.00
100.00
100.00 %

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