o. Horner Corporation reported net sales of $150.000, cost of goods sold of $96,000, operating expenses of $35,000, other expenses of $10,000, net income of $9,000. Calculate the following values. 1. Profit margin. 2. Gross profit rate.
Q: Sarasota Corp. reported net sales $ 600,000, cost of goods sold $ 336,000, operating expenses $…
A: Profit margin = Net Income / Net sales where, Net Income = Sales - cost of goods sold - operating…
Q: A company has net sales of $770,300 and cost of goods sold of $556,300. Its net income is $21,910.…
A: Sales = $770,300 Cost of goods sold = $ 556,300 Gross Margin = $ 214,000
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A:
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A: Gross profit: It can be defined as the excess of a company's sales revenue over the cost of goods…
Q: Kenzy Co. had the following account balances: Sales revenue 24 120,000 Cost of goods sold 60,000…
A: The gross profit is calculated as difference between sales and cost of goods sold.
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A: Introduction: Net sales: Net sales value to be shown in income statement. It tells the exact sales…
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A: Percentage of sales of particular account = Particular account amount * 100 / Sales for the year
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A: The question is based on the concept of Financial Accounting.
Q: 8. Horner Corporation reported net sales of $150,000, cost of goods sold of $96,000, operating…
A: Profit Margin is nothing but the net profit ratio. Profit margin shows profitability of company, it…
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A: In a common size income statement each line item is expressed as a percentage of revenue or sales.…
Q: financial information is presented here for queen company. Net sales- 80,000 cost of goods sold-…
A: Formula: Gross profit = Net sales - Cost of goods sold
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A: Gross Profit = Sales Revenue x Gross Profit Margin Cost of Goods Sold = Sales - Gross Profit
Q: Monty Corp. reported net sales $610,000, cost of goods sold $366,000, operating expenses $151,000,…
A: Profit Margin=Net IncomeNet Sales×100=$70,150$610,000×100=0.115×100=11.5%
Q: The income statement for Gilmore Uniforms shows gross profit of $143,000, operating expenses of…
A: Gross profit: Gross profit is calculated after deducting the costs associated with production of…
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A: The Statement of Comprehensive Income - The statement of comprehensive income is the profit earned…
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A: a.Calculate the amount of gross profit.
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A: "Since you have asked multiple questions, we will solve only first question for you. If you want any…
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A: When two numerical values are compared with each other, the result is known as a ratio. Ratio…
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A: Average Total assets = (Beginning Total assets + Ending Total assets) / 2 =(60000+68000)/2 = $64,000
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A: The gross profit is the net selling profits of business less its product expense sold (COGS). In…
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A: Sales - Cost of goods sold = Gross profit
Q: Assume Martinez Company has the following reported amounts: Sales revenue $ 610,000, Sales returns…
A: a. Net sales = sales revenue - sales return and allowance = $610000 - 30000 = $580,000
Q: What is the amount of Income from Operations that a company should report on its current year…
A: Income from operations is one of the important output of income statement. It shows income after…
Q: The income statement account balamnces for the year ended Dec. 31 shows the following: Net Sales…
A: Formula: Gross profit = Net sales - Cost of goods sold
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A: Multiple step income statement - Multiple step income shows the net income earned by the company by…
Q: Monty Corp. reported net sales $610,000, cost of goods sold S366,000, operating expenses $151,000,…
A: Answer) Calculation of Profit Margin Profit Margin = Net Income/ Net Sales Profit Margin = $ 70,150/…
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A: Gross profit is the excess of revenue over the cost of goods sold and net profit is the excess of…
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A: Lets understand the basics. For calculating net sales, we need to use below formula. Profit margin =…
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A: The gross margin is calculated as excess of sales over cost of goods sold.
Q: A company has a net profit margin of 5%, an operating profit margin of 10%, and a gross profit…
A: Cost of goods sold - Cost of Goods Sold is the cost incurred to sell the goods to the customer. The…
Q: Ziehart Pharmaceuticals reported Net Sales of $178,000 and Cost of Goods Sold of $58,000.Candy…
A: GP% = (sales - COGS)/sales GP% for Ziehart Pharmaceuticals = ($178000-$58000)/$178000 = 0.6742 or…
Q: Sarasota Corp. reported net sales $ 600,000, cost of goods sold $ 336,000, operating expenses $…
A: Lets understand the basics. Profit margin have two types which are, (1) Gross profit margin (2) Net…
Q: Sarasota Corp. reported net sales $ 600,000, cost of goods sold $336,000, operating expenses $…
A: Introduction: Profit margin: 1 ) It tells the profitability of the company so its a profitability…
Q: A company has a net profit margin of 5%, an operating profit margin of 10%, and a gross profit…
A: The cost of goods sold can be calculated by deducting gross profit from the sale revenue.
Q: Monty Corp. reported net sales $610,000, cost of goods sold S366,000, operating expenses $151,000,…
A: Formula: Gross profit rate = ( Gross profit / Net sales ) x 100
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A: A Common size income statement is a statement where each line item is expressed as a percentage of…
Q: A company has a net profit margin of 5%, an operating profit margin of 10%, and a gross profit…
A: Cost of goods sold is the actual cost of goods that is being sold to the customers. Net Sales is the…
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- 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. 1,220,000Brandt Corporation had sales revenue of 500,000 for the current year. For the year, its cost of goods sold was 240,000, its operating expenses were 50,000, its interest revenue was 2,000, and its interest expense was 12,000. Brandts income tax rate is 30%. Prepare Brandts multiple-step income statement for the current year.Horner Corporation reported net sales of $150,000, cost of goods sold of $96,000, operating expenses of $35,000, other expenses of $10,000, net income of $9,000. Calculate the following values. A.) Profit margin. B.) Gross profit rate.
- Sarasota Corp. reported net sales S 600,000, cost of goods sold $ 336,000, operating expenses $ 160,000, and net income S 63,600. Calculate the profit margin ay (Round Profit margin answer toMarino Company has provided the following information: Net sales, $480,000 Net income, $24,000 Average total assets, $200,000 What is Marino's net profit margin?Cullumber Corporation reported net sales of $160,000, cost of goods sold of $91,200, operating expenses of $35,900, other expenses of $10,600, net income of $8,000. Calculate the following values. (Round answers to O decimal places, e.g. 25%.) *** EXAG 1. 2. Profit margin Gross profit rate % % Tole Skole Sele Schotho
- Assume Martinez Company has the following reported amounts: Sales revenue $ 610,000, Sales returns and allowances $ 30,000, Cost of goods sold $ 396,500, and Operating expenses $ 84,000. (a) Compute net sales. Net sales (b) Compute gross profit. Gross profit (c) Compute income from operations. Income from operations (d) Compute the gross profit rate. (Round answer to 1 decimal place, e.g. 25.2%.) Gross profit rate %24Oriole Corporation reported net sales of $166,000, cost of goods sold of $99,600, operating expenses of $36,200, other expenses of $13,600, net income of $16,600. Calculate the following values: (Round answers to 0 decimal places, e.g. 15%.) 1. 2. Profit margin Gross profit rate % %Monty Corp. reported net sales $610,000, cost of goods sold $366,000, operating expenses $151,000, and net income S70,150. Calculate the profit margin and gross profit rate. (Round Profit margin answer to 2 decimal places, e.g.
- A company has the following financial information: net sales $500,000, cost of goods sold $300,000, operating expenses $100,000, and other income $10,000. Calculate the gross profit margin and the operating profit margin.Monty Corp. reported net sales $610,000, cost of goods sold $366,000, operating expenses $151,000, and net income $70,150. Calculate the profit margin?Assume Marigold Company has the following reported amounts: Sales revenue $ 500,000, Sales returns and allowances $ 21,000, Cost of goods sold $ 325,000, and Operating expenses $ 75,000. (a) Compute net sales. Net sales $ (b) Compute gross profit. Gross profit $ (c) Compute income from operations. Income from operations (d) Compute the gross profit rate. (Round answer to 1 decimal place, e.g. 25.2%.) Gross profit rate