https://docs.google.com/forms/d/e/1FAlpQLSXorlaxIMYwWjdrexbNIB0F6zOshlaGsSzvcHy9vKm0jUnAg/formResponseipli=1Income Statement: The income statement of Taco Bell company is given for theyears 2020 & 2019.20202019General and administrative expenses25,00024,000Interest expense1,2001.500Net sales$124,000$138 00012,72011,880$1,109 5108.000Selling expensesIncome taxes1,88395,000COGS450600Gain on Sale of land ps://docs.google.com/forms/d/e/1 FAlpQLSXorlaxIMYWWjdrexbNI30F6zOshLaGsSzvcHy9vKm0jUnAg/formResponse?p1. What is the operating profit margin for the company over the years 2020 and2019 respectively? *O A) 2.6%; 4.5%O B) 1.3%; 2.5%O C) 1.8%, 3.4%O D) 27.4%, 31.1%E) None of the above

Operating profit margin = (Net sales - COGS) / Net sales

Answered: Income Statement: The income statement…

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

Chapter12: Intangibles

Section: Chapter Questions

Problem 3MC

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