The following information was taken from the financial statements of Sunland Company: 2021 2020 Gross profit on sales $678,600 $760,000 Income before income taxes 205,400 225,000 Net income 260,000 225,000 Net income as a percentage of net sales 10% 9% What are the net sales for 2021 and 2020? can you help me solve?
The following information was taken from the financial statements of Sunland Company: 2021 2020 Gross profit on sales $678,600 $760,000 Income before income taxes 205,400 225,000 Net income 260,000 225,000 Net income as a percentage of net sales 10% 9% What are the net sales for 2021 and 2020? can you help me solve?
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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The following information was taken from the financial statements of Sunland Company:
2021
|
2020
|
|||||
---|---|---|---|---|---|---|
Gross profit on sales
|
$678,600 | $760,000 | ||||
Income before income taxes
|
205,400 | 225,000 | ||||
Net income
|
260,000 | 225,000 | ||||
Net income as a percentage of net sales
|
10% |
9% |
What are the net sales for 2021 and 2020? can you help me solve?
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