If 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 years

Q: How is the gross profit percentagecomputed? Illustrate its calculation and interpretationassuming…

A:

Q: For each of the following, determine the missing amounts. Sales Revenue   Cost of Goods Sold…

A: As per the rules of income statement: Sales-Cost of goods sold= Gross profit Gross profit -…

Q: Sarasota Corp. reported net sales $ 600,000, cost of goods sold $ 336,000, operating expenses $…

A: Profit margin = Net Income / Net sales where, Net Income = Sales - cost of goods sold - operating…

Q: Determining cost of goods soldFor a recent year, Best Buy (BBY) reported sales of $39,528 million.…

A: The gross profit is calculated by deducting the cost of goods sold from the sales revenue.

Q: For Mortenson Company, the following informationis available: Cost of goods sold £240,000 Sales…

A: Net Sales = Gross Sales - Sales Discount Net Sales = $400,000 - $8,000 Net Sales = $392,000

Q: What are the correct amounts missing from the condensed income statement of Arch Company?   Arch…

A: Sales = Cost of goods sold + Gross profit Operating expense = Gross profit - Net income

Q: Amjad Trading LLC : Gross Sales are RO 82,000, Sales Returns RO 2,000, Cost of goods sold is RO…

A:

Q: Calculate the missing information based on the format of the income statement. Net sales :…

A: Net Sales are of $4,236,000 Gross margin is of $1,830,000 Net profit of $659,500   To Find: Cost of…

Q: financial information is presented here for queen company. Net sales- 80,000 cost of goods sold-…

A: Formula: Gross profit = Net sales - Cost of goods sold

Q: RJ Garcia Sound had sales of P600,000 and sales returns of P80,000. Cost of goods sold was P320,000…

A: Gross profit is an excess of revenue over the cost of goods sold. It indicates the profit before…

Q: Sales revenues are RO 400,000, cost of goods sold is RO 310,000, and operating expenses are RO…

A: Gross profit = Sales revenue - Cost of goods sold Net profit = Gross profit - Operating expenses

Q: Monty Corp. reported net sales $610,000, cost of goods sold $366,000, operating expenses $151,000,…

A: Profit Margin=Net IncomeNet Sales×100=$70,150$610,000×100=0.115×100=11.5%

Q: The income statement for Gilmore Uniforms shows gross profit of $143,000, operating expenses of…

A: Gross profit:  Gross profit is calculated after deducting the costs associated with production of…

Q: Cushman Company had $834,000 in net sales, $364,875 in gross profit, and $208,500 in operating…

A: Gross profit = Net Sales - Cost of goods sold Cost of goods sold = Net sales - Gross profit

Q: If the net sales 1250 000 ID selling expenses 250 000 ID., Administrative expenses 250 000 ID., the…

A: Introduction: Gross profit: Deduction of cost of goods sold from the sales value drives the Gross…

Q: A company reports net sales of OMR 60,000, cost of goods sold is OMR 35,000, operating expenses is…

A: Net Income is also known as net earnings. It refers to the amount which is derived after deducting…

Q: The following are the components in Cullumber Company’s income statement. Determine the missing…

A: Solution:   Sales Revenue Cost of Goods Sold Gross Profit Operating Expenses Net Income (a)…

Q: Given: The Company showed Cost of Goods Sold amounting to P440,000 and its gross profit rate is 45%.…

A: Gross profit ratio is a profitability ratio that calculates the percentage of sales that exceed the…

Q: hat is the net i

A: As per rule, allowed to answer first question and post the remaining in the next submission.

Q: For each of the following, determine the missing amounts. Net Sales   Cost of Goods Sold   Gross…

A: Gross Profit is determined after operating expenses from Net Sales Gross Profit can also be…

Q: A company has $550,000 in net sales and $193,000 in gross profit. This means its cost of goods sold…

A:

Q: sing the financial information presented below:             Operating Expenses  $ 55,000…

A: Answer 1) Formula: Gross Profit = Net Sales – Cost of Goods Sold Gross Profit = (Sales – Sales…

Q: Financial information is presented below: Operating expenses $ 40,000 Sales revenue 200,000 Cost of…

A: Gross Profit: Difference between the sales and the cost of goods sold is called Gross Profit.

Q: Calculate the Sales from the information given: Cost of goods sold is $38,000 Net income is $14,625…

A: The question is multiple choice question. Required  Choose the Correct Option.

Q: For Mortenson Company, the following information is available: Cost of goods sold P  60,000; Sales…

A: Income statement of a company  shows its gross profit or gross loss and net profit or net loss.…

Q: Using the financial information is presented below:             Operating Expenses  $ 55,000…

A: Solution: Net sales = Sales - Sales returns and allowances - Sales discount = $160,000 - $13,000 -…

Q: SERVICE REMENUE Sales revenue, net Cost of goods sold Gross profit $ 281,000 120,000 161,000…

A: Net profit margin = Net profit / Revenue

Q: The following information relates to Blake Auto Supply.   Net Sales Revenue $196,000 Cost of Goods…

A: Net Income is the amount of net profit earned from business

Q: Lj Company's total sales was P125,750. If the gross profit is 57.75% of the sales, how much is the…

A: Cost of goods sold is the cost of goods which is sold by the company. The cost of goods sold is the…

Q: If the net sales 1250 000 ID ., selling expenses 250 000 ID., Administrative expenses 250 000 ID.,…

A: Solution:- Calculation of Gross profit as follows under:-

Q: find costs of goods sold and operating expenses with the following information?  Net Income (Net…

A: Costs of goods sold = Sales - Gross Profit Operating expenses = Gross Profit - Net Income

Q: .Net Sales is equal to P200, 000 and Cost of Goods Sold totaled P65, 000. What is the Gross Profit?…

A: Gross Profit is the sum of all salaries, wages, interests, etc. before any deductions and taxes.…

Q: Overcharge Card reports that following amounts: Sales = $3,000,000; Cost of Goods Sold = $1,200,000;…

A: Operating income is the profitability of a firm which is derived from its operations. In simple…

Q: The gross profit margin of WALA company is 40%. If the gross profit is ₱332,560.00, how much is the…

A: Gross profit margin =40% Gross profit =P332,560 Therefore, Revenue =Gross profit/gross profit margin…

Q: The following information is available for Sandy Company:            Gross Profit…

A: When all the direct costs incurred by the manufacturing firm are totaled, then this amount is known…

Q: A company has a net profit margin of 5%, an operating profit margin of 10%, and a gross profit…

A: Cost of goods sold - Cost of Goods Sold is the cost incurred to sell the goods to the customer. The…

Q: Net margin is 30% of the gross sales of 150,000. With Cost of Goods Sold amounting to 50,000, what…

A: Net margin = 30% Gross sales = 150000 COGS = 50000

Q: sing the financial information is presented below:             Operating Expenses  $ 55,000…

A: Formula: Gross Profit = Net Sales – Cost of Goods Sold Gross Profit = (Sales – Sales returns and…

Q: Ziehart Pharmaceuticals reported Net Sales of $178,000 and Cost of Goods Sold of $58,000.Candy…

A: GP% = (sales - COGS)/sales GP% for Ziehart Pharmaceuticals = ($178000-$58000)/$178000 = 0.6742 or…

Q: Quartz Corporation had the following account balances: Sales, $875,000; Sales Returns and…

A: Formula: Gross Profit = Net sales - cost of goods sold.

Q: SERVICE REVENUE $ 281,000 120,000 161,000 Sales revenue, net Cost of goods sold Gross profit…

A: Gross margin (gross profit): Gross margin is the amount of revenue earned from goods sold over the…

Q: Brad Gravel Pitt Company has sales of $495,000 and cost of goods sold of $302,000. Selling and…

A: Gross profit is the excess of sales over the cost of goods sold. It shows the profit earned by the…

Q: A company has a net profit margin of 5%, an operating profit margin of 10%, and a gross profit…

A: The cost of goods sold can be calculated by deducting gross profit from the sale revenue.

Q: If Net Sales is​ $10,500, Cost of Goods Sold is​ $5,400, Gross Profit is​ $5,100 and Operating…

A: Net income from operation means the income arrived by deducting from sales , the following items :-…

Q: Given: The Company showed Cost of Goods Sold amounting to P645,750 and its gross profit rate is 40%.…

A: Calculation of Total Sales Revenue Total Sales Revenue = Cost of goods sold/ (100% - Gross Profit…