Answer in subparts:A. 0.57895 or 11:19B. 0.90476 or 19:21C. 0.3258Note: Please answer d, e and f only. Gross ProfitLess: Administrative ExpenseSelling and OperatingExpenseIncome before taxesIncome Tax ExpenseIncome After TaxesFind the following:550, 000What would be the95,00020,0003.455.000691, 000P 2,764, 000600,000105,00040,0004,805,000961, 000P 3,844, 000a Express the ratio of the Gross Profit of Year 1 to the Cost of Goods Sold of Year 2 Fractionb What fraction can you arrive at if you comparof Year 1 to itsVer 2rence if you suburact your answer from fetter a to your answer fromd. What fraction can you arrive if you will compare the Selling and Operating taxes of Year 2 tothe Net Sales of Year 1?e. Express the ratio of Year 1 Selling and Operating Expense to the Administrative Expense of thesame year in fraction formf. What would be the product of the answers for letters d and e? Below are the Income Statement of ABC Company for two consecutive years.ABC CompanyNet SalesCost of Goods Soldxs3Year 1P 5,000,000880,000Year 2P 6,500,000950,000

The income statement is prepared at the end of the accounting period to report the profit or loss.…

Gross Profit Less: Administrative Expense Selling and Operating Expense Income before taxes Income Tax Expense Income After Taxes Find the following: 550,000 95,000 20,000 600,000 105,000 40,000 3,455,000 4,805,000 691, 000 961, 000 P2, 764, 000 P 3,844, 000 Express the ratio of the Gross Profit of T Year 1 to the Cost of Goods Sold of Year 2 in Fraction What fraction can you arrive at if you compare the Administrative Expenses of Year + to its Year Phat would be the difference if you suburact your answer from fetter a to your answer from atter h2 1. What fraction can you arrive if you will compare the Selling and Operating taxes of Year 2 to he Net Sales of Year 1? Express the ratio of Year 1 Selling and Operating Expense to the Administrative Expense of the same year in fraction form. What would be the product of the answers for letters d and e?

Gross Profit Less: Administrative Expense Selling and Operating Expense Income before taxes Income Tax Expense Income After Taxes Find the following: 550,000 95,000 20,000 600,000 105,000 40,000 3,455,000 4,805,000 691, 000 961, 000 P2, 764, 000 P 3,844, 000 Express the ratio of the Gross Profit of T Year 1 to the Cost of Goods Sold of Year 2 in Fraction What fraction can you arrive at if you compare the Administrative Expenses of Year + to its Year Phat would be the difference if you suburact your answer from fetter a to your answer from atter h2 1. What fraction can you arrive if you will compare the Selling and Operating taxes of Year 2 to he Net Sales of Year 1? Express the ratio of Year 1 Selling and Operating Expense to the Administrative Expense of the same year in fraction form. What would be the product of the answers for letters d and e?

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter5: The Income Statement And The Statement Of Cash Flows

Section: Chapter Questions

Problem 2MC: The following information is available for Cooke Company for the current year: The gross margin is...

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