What the answer for 34,35 34. Not 392,17535. Not 61,250 Use the following to answer questions 34 – 39ST reports the following income statement results:S700,000221,57548,800SalesOperating expenseNet incomeSales returns & allowances25,000Gross profit282,825Interest expense25034. $Calculate Net sales:35.$CalculateCostofGoodsSold$Calculateoperating36.income37. $Calculate Income before Income tax(IBT)%.Calculatethe gross profit38.margin(one decimal place)%.Calculate the net profit margin (one39.decimal place)

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Description: What the answer for 34,35 34. Not 392,17535. Not 61,250 Use the following to answer questions 34 – 39ST reports the following income statement results:S700,000221,57548,800SalesOperating expenseNet incomeSales returns & allowances25,000Gross profit28

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Use the following to answer questions 34 – 39 ST reports the following income statement results: $700,000 221,575 48,800 25,000 282,825 Sales Operating expense Net income Sales returns & allowances Gross profit Interest expense 250 34. $ Calculate Net sales: 35. $ Calculate Cost of Goods Sold $ Calculate operating 36. income

Use the following to answer questions 34 – 39 ST reports the following income statement results: $700,000 221,575 48,800 25,000 282,825 Sales Operating expense Net income Sales returns & allowances Gross profit Interest expense 250 34. $ Calculate Net sales: 35. $ Calculate Cost of Goods Sold $ Calculate operating 36. income

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter12: Fainancial Statement Analysis

Section: Chapter Questions

Problem 74E

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Analyze the ratios and give you a report on the same. Gross Profit Ratio = Gross Income/ Sales = 3073.7/10577 = 29.06% Net Profit Ratio = Net Income/ Sales = 80.3/10577 = 0.76% Current Ratio = Current Assets/ Current Liabilities Liquid Ratio = 3581.3/6150 = 58.23% = 7439.2/6150 = 1.21