Monty Corp. reported net sales $610,000, cost of goods sold S366,000, operating expenses $151,000, ae net income $70,150. Calculate the profit margin and gross profit rate. (Round Profit margin answer to 2 decimal places, e.g.
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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. 1,220,000The following is select account information for Sunrise Motors. Sales: $256,400; Sales Returns and Allowances: $34,890; COGS: $120,470; Sales Discounts: $44,760. Given this information, what is the Gross Profit Margin Ratio for Sunrise Motors? (Round to the nearest whole percentage.)The following is select account information for August Sundries. Sales: $850,360; Sales Returns and Allowances: $148,550; COGS: $300,840; Operating Expenses: $45,770; Sales Discounts: $231,820. If August Sundries uses a multi-step income statement format, what is their gross margin?
- 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.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 %24Assume 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
- Assume Carla Vista Company has the following reported amounts: Sales revenue $1,489,000, Sales returns and allowances $44,000. Cost of goods sold $955,145, and Operating expenses $321,200. (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 %Oriole 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 % %The following data is from the income statement of Ralston Company: Revenue Cost of goods sold $5,000 (2,850) Operating expenses (800) Net income $ 1,350 What is the company's gross margin percentage? Note: Round your answers to three decimal places. Multiple Choice O O O O 62.790% 27.000% 57.000% 43.000%
- The Timber Ridge Company has the following relationships: Sales/Total assets = 2.46; ROA = 0.1080 What is Timber Ridge’s net profit margin? Round to 3 decimal places.The following is Cullumber Company’s income statement for the past year. Sales revenue $336,000 Cost of goods sold 134,400 Gross margin 201,600 Operating expenses 145,600 Operating income $56,000 What is the gross margin percentage? (Round answer to 0 decimal places, e.g. 45%.) Gross margin percentage enter gross margin percentage rounded to 0 decimal places %Determining gross profit During the current year, merchandise is sold for $8, 100,000. The cost ofthe goods sold is $4,698,000. a. What is the amount of the gross profit?b. Compute the gross profit percentage (gross profit divided by sales).c. Will the income statement always report a operating income? Explain.