Fill in the missing amounts. Yoste Company Noone Company Sales revenue $90,000 105000 Sales returns and allowances 6000 5,000 Net sales 84,000 100,000 Cost of goods sold 58,000 60000 Gross profit 26000 40,000 Operating expenses 14,380 23000 Net income 11620 17,000 eTextbook and Media X Your answer is incorrect. Calculate the profit margin and the gross profit rate for each company. (Round answers to 1 decimal place, e.g. 15.5%.) Yoste Company Noone Company Profit margin Gross profit rate

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Your answer is correct.
Fill in the missing amounts.
Yoste Company
Noone Company
Sales revenue
$90,000
24
105000
Sales returns and allowances
6000
5,000
Net sales
84,000
100,000
Cost of goods sold
58,000
60000
Gross profit
26000
40,000
Operating expenses
14,380
23000
Net income
11620
17,000
eTextbook and Media
X Your answer is incorrect.
Calculate the profit margin and the gross profit rate for each company. (Round answers to 1 decimal place, eg. 15.5%.)
Yoste Company
Noone Company
Profit margin
%
%
Gross profit rate
%
%
Transcribed Image Text:Your answer is correct. Fill in the missing amounts. Yoste Company Noone Company Sales revenue $90,000 24 105000 Sales returns and allowances 6000 5,000 Net sales 84,000 100,000 Cost of goods sold 58,000 60000 Gross profit 26000 40,000 Operating expenses 14,380 23000 Net income 11620 17,000 eTextbook and Media X Your answer is incorrect. Calculate the profit margin and the gross profit rate for each company. (Round answers to 1 decimal place, eg. 15.5%.) Yoste Company Noone Company Profit margin % % Gross profit rate % %
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