Net sales 74,000 90,000 Cost of goods sold 51,800 Gross profit 28,800 Operating expenses 13,320 Net income 11,700
Q: Gross profit of Company amounted to 175,000. Beginning Inventory totaled 250,000. Ending Inventory…
A: Formula: Cost of Goods sold = Beginning inventory + Net purchases - Ending Inventory.
Q: The income statement of Booker T Industries Inc. for the current year ended June 30 is as follows:…
A: Cash flow statement: Cash flow statement is a main part of financial statement. It is prepared to…
Q: Cost of goods sold: $164,000 Investment income: $1,200 Net sales: $318,000 Operating expense:…
A: Retained Earnings = Net Profit after tax - Dividend Paid
Q: Net Sales $336,500 Cost of Goods Sold $132,200 $ Gross Margin ($) Operating Expenses $109,000 $ Net…
A: Net profit is the amount of sales revenue left after paying all the operating expenses incurred…
Q: Net Sales $336,500 Cost of Goods Sold $132,200 $ Gross Margin ($) Operating Expenses Net Profit ($)…
A: Introduction: Net profit: Deduction of all expenses from revenues derives the net profit. Net profit…
Q: Prepare the necessary disclosures required by GAAP
A: ANSWER : Disclosures required by GAAP are given below :
Q: Sales 417,500 Cost of goods sold 210,000 Salaries expense 38,000 Depreciation expense- building…
A: solution concept single step income statement under single step income statement , income statement…
Q: FILL - UP THE MISSING AMOUNTS: Sales 3,593,800 Cost of Goods Sold 2,450,300 Gross Profit Expenses…
A: The gross profit is calculated as difference between sales and cost of goods sold. The net income is…
Q: Calculate the gross profit for Jefferson Company
A: Gross profit is nothing but the profit earned by an entity after considering expenses that are…
Q: 877 Stargel Inc. Comparative Income Statement For the Years Ended December 31, 20Y2 and 20Y1 20Y2…
A: As posted multiple sub parts we are answering only first three sub parts kindly repost the…
Q: Sales $ 435,000 Variable expenses: Cost of goods sold $ 304,500 Administrative expense 21,750…
A: The income statement is referred to as a statement of operations, a profit and loss statement, or a…
Q: Cost of goods sold $216,128 Rent expense $34,000 Freight-out 6,000 Sales discounts 8,000 Insurance…
A: Formula: Net income = Total revenues - Total expenses
Q: Cost of Sales Net Beg Net Ending Goods Sales returns Sales Inventory Purchases Inventory Sold 5,000…
A: Cost of goods sold: Cost of goods sold refers to the total expenses that are incurred by an…
Q: Gross sales $ 19,000 $ 15,000 Sales returns and allowances 1,000 100 Net sales $ 18,000 $ 14,900…
A: Given 2020 &2019 Current Assets Current assets: 2020 2019 Cash $ 12,000 $ 9,000…
Q: Sales revenue 400,000 Total Revenue…
A: Profit margin is the measurement of company’s earning in respect to the revenues generated by it. It…
Q: Sales Cost of goods sold Gross Profit Operating expenses P800,000 480,000 320,000
A: Formula used: Each line item value % = ( Each line item value / Sales value ) x 100
Q: Cost of Goods Gross Sales Net Ending Profit Beg Inventory Purchases Inventory Net Sales returns…
A: Formula: Gross profit = Net sales - cost of goods sold
Q: $345,000 $205,000 $32,500 Net sales revenue Cost of goods sold Average accounts receivable Average…
A: The average collection period refers to how long it takes a business to collect its receivables.…
Q: Prepare a Statement of Cash Flows; Free Cash Flow Joyner Company’s income statement for Year 2…
A: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question and…
Q: Operating Goods Sold ($) Margin Expenses (S) Cost of Gross Net Sales Net Profit $4,234,000 S…
A: The income statement is prepared to determine the net income of the business by subtracting the…
Q: Last Year Sales $208,000 $221,000 Cost of goods sold 106,000 116,000 Gross margin 102,000…
A: Ratio analysis can be used to obtain the information regarding performance of a company, department,…
Q: Sales revenue (all on account) $10,177,250 $9,614,00C Cost of goods sold 5,611,750 5,298,750 Gross…
A: The ratio analysis helps to analyse the financial statements of the business.
Q: Net sales Cost of goods sold $ 180,000 124,000
A: Ratio analysis is a technique to know the liquidity, profitability and operational efficiency of the…
Q: Cost of Goods Sold Gross Operating Expenses Net Sales Net Profit ($) Margin ($) $336,500 $132,200 $…
A: Formula: Gross margin = Net sales - Cost of goods sold
Q: Sales revenue $200,000 Cost of goods sold 119,000 Gross profit 81,000 Operating expenses (includes…
A: The cash flow statement shows the inflow and outflow of cash due to the operating, investing, and…
Q: Sales $24,350,735 Cost of goods sold 15,300,000 Gross margin $9,050,735 Operating expenses 4,910,685…
A: Times Interest Earned Ratio or TIE, measures the firm's ability to meet its debt obligations on a…
Q: A company has Sales of $8,000,000; Accounts Receivable of $250,000; Cost of Goods Sold of…
A: Gross profit is an excess amount of revenue over the cost of goods sold. It also indicates the…
Q: Sales Cost of goods sold P800,000 480,000 320,000 Gross Profit Operating expenses 40,000 Selling…
A: Comparative financial statements are prepared to analyze the financial statements of the company. It…
Q: Sales revenue HK$112,000 Gain on sale of plant assets 33,600 Selling and administrative expenses…
A: Formula: Gross profit = Sales revenue - cost of goods sold
Q: 877 Stargel Inc. Comparative Income Statement the Years Ended December 31, 20Y2 and 20Y1 20Υ2 20Υ1…
A: As posted multiple sub parts we are answering only first three sub parts kindly repost the…
Q: Computing cost of goods sold and operating income, merchandising company Consider the following…
A: c. Selling and administrative expenses = Gross profit - Operating income = $40,000 - $12,000 =…
Q: $90,000 (a) 81,000 56,000 (b) 15,000 (c) (d) $ 5,000 95,000 (e) 41,500 (f) 15,000 Sales Sales…
A:
Q: Sales (all on account) Cost of goods sold Gross margin Selling and administrative expense Net…
A: Return on total asset is a financial measure to calculate the net income earned by the company…
Q: Cost of goods sold: Chocss) 199 865,000 $58,400 Ending inventory: 11.2% $34,000 Operating income:…
A: Accounting system defines various formulas to calculate and reconcile the figures recorded in the…
Q: The Cost of Goods Sold amounted to ₱285,000. Net cost of purchases totaled ₱ 85,000. Beginning…
A: Gross profit is the excess of sales over cost of goods sold. Cost of goods sold is the cost at which…
Q: Cost of Goods Sold $ 164,000 Income Tax Expense Merchandise Sales (gross revenue) for Cash 238,000…
A: Formula: Gross profit = ( Gross profit / net sales ) x 100
Q: Sales Cost of goods sold Gross profit Operating expenses Operating income Interest expense $168,000…
A: Horizontal analysis is an analysis carried out horizontally between the line of times which is…
Q: Sales revenue Cost of goods sold Salaries and wages expense Depreciation expense 120,000 $ 60,000…
A: Introduction: Gross profit : Deduction of Cost of goods sold from Sales revenue derives the Gross…
Q: Sales 460,000 Cost of goods sold 300,000 Operating expenses 85,000 Sales discounts 20,000 Sales…
A: Solution: Net sales = Sales - Sales discounts - sales return and allowances = 460000 - 20000 - 15000…
Q: Overcharge Card reports that following amounts: Sales = $3,000,000; Cost of Goods Sold = $1,200,000;…
A: Operating Income = Sales - Cost of goods sold - depreciation - administrative expenses - marketing…
Q: Income Statement Balance Sheet $ 98,500 (62,000) (18,000) (9,000) Sales Cost of Goods Sold Salaries…
A: Operating cash flows refers to cash generated by the regular operating activities of a company in a…
Q: Alpha Company Sales 6000 Cost of goods sold 3500 Average Inventories 620 Accounts receivable Working…
A: Inventory: Inventory can be described as a good or material that a company holds for the purpose of…
Q: Sales . . . . . . . . . . . . . . . . . . . . . . . . $300,000 Sales returns . . . . . . . . . . . .…
A: Operating expenses are expenses incurred for the operation of the business. Cost of goods sold is…
Q: Cost of Gross Goods Sold Sales Net Ending Profit Beg Inventory Purchases Inventory Net Sales returns…
A: Formula: Net sales = Sales - Sales returns
Q: Interest expense = 36,000. Sales revenue = 2,195,000. Interest and dividends = 9,000. Selling…
A: Gross profit shows that income of the entity which it gets when the total net sale value of goods…
Q: Sales revenue $104,000 $enter a dollar amount Sales returns and allowances enter a dollar…
A: Income statement is a part of financial statement which shows financial performance of the company…
Q: Sales Revenue $983,000 Cost of Goods Sold 489,000 Operating Expenses 243,000
A: Formula: Net income = Sales revenue - Cost of goods sold - Operating expenses
Q: Determining Gross Profit During the current year, merchandise is sold for $31,850,000. The cost of…
A: Meaning of Gross Profit Gross profit is refer as the profit of the company which is computed after…
Q: ales $910,000 oss on sale of equipment $8,000 Cost of goods sold $495,000 Operating expense $175,000…
A: Solution: Net sales is the sales reduced by sales returns and allowances. Operating income is…
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- Income Statement for Year Ended December 31, 2018 (Millions of Dollars) Net sales 795.0 Cost of goods sold 660.0 Gross profit 135.0 Selling expenses 73.5 EBITDA 61.5 Depreciation expenses 12.0 Earnings before interest and taxes (EBIT) 49.5 Interest expenses 4.5 Earnings before taxes (EBT) 45.0 Taxes (40%) 18.0 Net income 27.0 a. Calculate the ratios you think would be useful in this analysis. b. Construct a DuPont equation, and compare the companys ratios to the industry average ratios. c. Do the balance-sheet accounts or the income statement figures seem to be primarily responsible for the low profits? d. Which specific accounts seem to be most out of line relative to other firms in the industry? e. If the firm had a pronounced seasonal sales pattern or if it grew rapidly during the year, how might that affect the validity of your ratio analysis? How might you correct for such potential problems?The following information is available for Cooke Company for the current year: The gross margin is 40% of net sales. What is the cost of goods available for sale? a. 5840,000 b. 960,000 c. 1,200,000 d. 1,220,000Use the following information (in thousands):a. ¥126,000 d. ¥63,000Answer:1Sales revenue¥300,000 Gain on sale of equipment90,000 Cost of goods sold164,000 Interest expense16,000 Selling & administrative expenses30,000 Income tax rate30%Determine the amount of net income.
- a company has sales of 763000 and cost of goods sold of 306,000 its gross profit equals (457,000) 763,000 306,000 457,000 1069,000Sales revenue $39,900 $75,300 $573,800 $35,400 $55,100Cost of goods sold 19,000 49,500 265,900 19,300 30,200Operating expenses 10,100 40,500 233,700 11,900 18,300 Total expenses 29,100 90,000 499,600 31,200 48,500Operating profit (loss) $10,800 $(14,700) $74,200 $4,200 $6,600Identifiable assets $35,200 $79,900 $493,400 $66,300 $49,900 Prepare the necessary disclosures required by GAAPNet sales OR 156000 Cost of the goods sold OR 99700 Details Debit. Credit General expenses 11700 Furniture 5100 Salaries. 9300 Depreciation. 2000 Account payable. 3575 Dividend revenue 2500
- cushman company had 834,000 in sales sales discount of 12510 sales returns and allowness of 18765 cost of goods sold of 396150 and 286895 in operating expenses net income equals what 802725 150955 406575 119680 182230Financial information for Sandhill Company is presented below: Operating Expenses $ 59000Net Sales 250000Cost of Goods Sold 137000 The gross profit rate would be 0.216.0.452.0.548.0.784.If the gross profit 196 000 ID, other revenue and gains 4 360 ID , operating expenses 143.900 ID, net purchases 1200000ID the net profit is:
- A company has sales of $763,000 and cost of goods sold of $306,000 it's gross profit equals what? A. (457,000) B. 763,000 C. 306,000 D. 457,000 E. 1069,000Marshall Inc. Comparative Income Statement For the Years Ended December 31, 20Y2 and 20Y1 1 20Y2 20Y1 2 Sales $10,850,000.00 $10,000,000.00 3 Cost of goods sold 6,000,000.00 5,450,000.00 4 Gross profit $4,850,000.00 $4,550,000.00 5 Selling expenses $2,170,000.00 $2,000,000.00 6 Administrative expenses 1,627,500.00 1,500,000.00 7 Total operating expenses $3,797,500.00 $3,500,000.00 8 Income from operations $1,052,500.00 $1,050,000.00 9 Other revenue 99,500.00 20,000.00 10 $1,152,000.00 $1,070,000.00 11 Other expense (interest) 132,000.00 120,000.00 12 Income before income tax $1,020,000.00 $950,000.00 13 Income tax expense 420,000.00 400,000.00 14 Net income $600,000.00 $550,000.00 Marshall Inc. Comparative Balance Sheet December 31, 20Y2 and 20Y1 1 20Y2 20Y1 2 Assets…Marshall Inc. Comparative Income Statement For the Years Ended December 31, 20Y2 and 20Y1 1 20Y2 20Y1 2 Sales $10,850,000.00 $10,000,000.00 3 Cost of goods sold 6,000,000.00 5,450,000.00 4 Gross profit $4,850,000.00 $4,550,000.00 5 Selling expenses $2,170,000.00 $2,000,000.00 6 Administrative expenses 1,627,500.00 1,500,000.00 7 Total operating expenses $3,797,500.00 $3,500,000.00 8 Income from operations $1,052,500.00 $1,050,000.00 9 Other revenue 99,500.00 20,000.00 10 $1,152,000.00 $1,070,000.00 11 Other expense (interest) 132,000.00 120,000.00 12 Income before income tax $1,020,000.00 $950,000.00 13 Income tax expense 420,000.00 400,000.00 14 Net income $600,000.00 $550,000.00 Marshall Inc. Comparative Balance Sheet December 31, 20Y2 and 20Y1 1 20Y2 20Y1 2 Assets…
