# nancial information for two companies are presented below.  Fill in the missing amounts.  Sheffield Corp. Tamarisk, Inc.Sales revenue \$100,000 \$enter a dollar amount Sales returns and allowances enter a dollar amount 6,000Net sales 94,000 116,000Cost of goods sold 64,860 enter a dollar amountGross profit enter a subtotal of the two previous amounts 38,280Operating expenses 16,920 enter a dollar amountNet income enter a total net income 17,400 eTextbook and Media    Calculate the profit margin and the gross profit rate for each company. (Round answers to 0 decimal places, e.g. 15%.)  Sheffield Corp. Tamarisk, Inc.Profit margin enter percentages rounded to 1 decimal place% enter percentages rounded to 1 decimal place%Gross profit rate enter percentages rounded to 1 decimal place% enter percentages rounded to 1 decimal place%

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nancial information for two companies are presented below.

Fill in the missing amounts.

 Sheffield Corp. Tamarisk, Inc. \$100,000 \$enter a dollar amount enter a dollar amount 6,000 94,000 116,000 64,860 enter a dollar amount enter a subtotal of the two previous amounts 38,280 16,920 enter a dollar amount enter a total net income 17,400

#### eTextbook and Media

Calculate the profit margin and the gross profit rate for each company. (Round answers to 0 decimal places, e.g. 15%.)

 Sheffield Corp. Tamarisk, Inc. Profit margin Gross profit rate enter percentages rounded to 1 decimal place % enter percentages rounded to 1 decimal place % enter percentages rounded to 1 decimal place % enter percentages rounded to 1 decimal place %
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Step 1

Gross profit percentage helps the company to compare gross margin to the net sales. This ratio tells the profitability at which company sells its inventory.

Net profit margin ratio calculates the amount of net income of a company that is generated as a percentage of sales revenue. It is financial metric used to calculate the profitability of a business.

Step 2

To calculate missing amounts:

Step 3

To calculate Gross p...

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