Calculate the gross profit rate and the profit margin. (Round answers to 1 decimal place, e.g. 15.2%) Gross profit rate Profit margin 2 842 % %
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- Suppose in its income statement for the year ended June 30, 2025, The Clorox Company reported the following condensed data (dollars in millions). Salaries and wages expenses Depreciation expense Sales revenue Interest expense Advertising expense Sales returns and allowances Assume a tax rate of 34%. (a) $ 300 60 3,420 120 300 161 Research and development expense Income tax expense Loss on disposal of plant assets Cost of goods sold Rent expense Utilities expense The Clorox Company Income Statement (amounts in millions) $60 $ 200 30 1,710 Prepare a multiple-step income statement. (Round answers to 0 decimal places, eg. 15,222) 60 30 $Suppose in its income statement for the year ended June 30, 2022, The Clorox Company reported the following condensed data (dollars in millions). Salaries and wages expenses $ 460 Research and development expense $ 114 Depreciation expense 90 Income tax expense 1,008 Sales revenue 9,230 Loss on disposal of plant assets 46 Interest expense 161 Cost of goods sold 4,500 Advertising expense 499 Rent expense 105 Sales returns and allowances 230 Utilities expense 60 Assume a tax rate of 34%. Gross profit rate enter percentages rounded to 1 decimal place% Profit margin enter percentages rounded to 1 decimal place%Dela Rosa Company Company The income statement for the year ended December 31, 2020, for Dela Rosa Company Comnany contains the following condensed information. Dela Rosa Company Company Income Statement For the Year Ended December 31, 2X20 Sales revenue Cost of goods sold Operating expenses (excluding depreciation) Depreciation expense Loss on disposal of plant assets Income before income taxes Income tax expense Net income P6,583,000 P2,810,000 2,086,000 880,000 24.000 5,800.000 783,000 353,000 P430,000 The P24,000 loss resulted from selling equipment for P270,000 cash. The equipment was purchased at a cost of P750,000. The following balances are reported on Dela Rosa's comparative balance sheets at December 31, Dela Rosa Company Company Comparative Balance Sheets Cash Accounts receivable Inventory Accounts payable 2X20 P672,000 775,000 834,000 521,000 2X19 P130,000 610,000 867,000 501,000 Income tax expense of P353,000 represents the amount paid in 2020. Dividends declared and paid…
- Consider the following income statement: Sales Costs Depreciation Taxes Calculate the EBIT. EBIT $748,168 486,752 110,700 Net income 23% Calculate the net income.Consider the following income statement: Sales Costs $ 602,184 391,776 Depreciation 89,100 Taxes Calculate the EBIT. EBIT 21% Calculate the net income. Net incomeThe following are the financial statement JNC Ltd. for the year ended 31 March 2020: JNC Ltd. Income statement For the year ended 31 March 2020 $”M” Revenue 1276.50 Cost of sales (907.00) 369.50 Distribution costs (62.50) Administrative expenses (132.00) 175.00 Interest received 12.50 Interest paid (37.50) 150.00 Tax (70.00) Profit after tax 80.00 JNC Ltd. Statement of financial position as at 31 March 2020 2019 $”M” $”M” ASSETS: Non- current assets: Property, plant and equipment 190 152.5 Intangible assets 125 100 Investments 12.5 Current assets: Inventories 75 51 Receivables 195 157.5 Short-term investment 25 Cash in hand 1 0.5 Total assets 611 474 Equity and liabilities: Equity: Share capital (10 million ordinary shares of $ 10 per value) 100 75 Share premium 80 75 Revolution reserve 50 45.5 Retained earnings 130 90 Non-current liabilities: Loan 85 25…
- In its income statement for the year ended December 31, 2025, Pharoah Inc. reported the following condensed data. Operating expenses Cost of goods sold Interest expense Income tax expense 4 $716.000 1,251,000 66,000 40,000 Interest revenue Loss on disposal of plant assets Sales revenue Sales discounts $28,000 12,000 2,350,000 154.000 Prepare a multiple-step income statement. (List Other revenue and gains before Other expenses and losses.) PHAROAH INC. Income StatementK McDaniel and Associates, Inc. reported the following amounts on its 2024 income statement: Year Ended December 31, 2024 Net income Income tax expense Interest expense $ 22,950 6,600 3,000 What was McDaniel's times-interest-earned ratio for 2024? OA. 7.65 OB. 10.85 OC. 9.85 OD. 8.65 point(s) possible ...Current Attempt in Progress In its income statement for the year ended December 31, 2025, Carla Vista Inc. reported the following condensed data. Operating expenses Cost of goods sold Interest expense Income tax expense $ 730,000 1,265,000 80,000 54,000 Interest revenue Loss on disposal of plant assets Sales revenue Sales discounts $ 42,000 25,000 2,358,000 144,000 Prepare a multiple-step income statement. (List Other revenue and gains before Other expenses and losses.) CARLA VISTA INC. Income Statement
- KM Manufacturing Company The income statement for the year ended December 31, 2020, for KM Manufacturing Company contains the following condensed information. KM Manufacturing Company Income Statement For the Year Ended December 31, 2X20 Sales revenue Cost of goods sold Operating expenses (excluding depreciation) Depreciation expense Loss on disposal of plant assets Income before income taxes P6,583,000 P2,810,000 2,086,000 880,000 24,000 5,800,000 783,000 353,000 P430,000 Income tax expense Net income The P24,000 loss resulted from selling equipment for P270,000 cash. The equipment was purchased at a cost of P750,000. The following balances are reported on KM's comparative balance sheets at December 31. KM Manufacturing Company Comparative Balance Sheets 2X20 2X19 Cash Accounts receivable Inventory Accounts payable P672,000 775,000 834,000 521,000 P130,000 610,000 867,000 501,000 Income tax expense of P353,000 represents the amount paid in 2020. Dividends declared and paid in 2020…The financial data of Mammoth corporation for the year ended 31st December,2020 is as followsParticulars Variable expense as percentage of sales 66.67Interest Expense ($) 200DOL 5DFL 3Income tax rate 0.35Requirement:a) Prepare income statement for company.Computing, Analyzing and Interpreting Residual Operating Income (ROPI) In its annual report for the fiscal year ended July 27, 2019, Cisco Systems reports the following ($ million): Net operating profit after tax (NOPAT) Net operating assets (NOA) beginning July 27, 2019 $3,404 $6,668 Assuming the following weighted average cost of capital (WACC), what is Cisco's residual operating income (ROPI) for the fiscal year ended July 27, 2019? WACC 7.6% ROPI $ 2,896.192 b. At what level of WACC would Cisco not report positive residual operating income for the year? WACC 51 %