Use the following to answer questions 34 – 39 ST reports the following income statement results: $700,000| 221,575 48,800 Sales Operating expense Net income Sales returns & allowances Gross profit 25,000 282,825 Interest expense 250 34. $ Calculate Net sales: $4 Calculate Cost of Goods 35. Sold $ Calculate operating 36. income 37. $ Calculate Income before Income tax (IBT) %. Calculate the gross profit 38. margin (one decimal place) Calculate the net profit margin (one %. decimal place) 39.
Use the following to answer questions 34 – 39 ST reports the following income statement results: $700,000| 221,575 48,800 Sales Operating expense Net income Sales returns & allowances Gross profit 25,000 282,825 Interest expense 250 34. $ Calculate Net sales: $4 Calculate Cost of Goods 35. Sold $ Calculate operating 36. income 37. $ Calculate Income before Income tax (IBT) %. Calculate the gross profit 38. margin (one decimal place) Calculate the net profit margin (one %. decimal place) 39.
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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