Calculate the missing amounts Sales Cost of goods sold Gross profit Operating expenses Net income (loss). ABC Inc 117,300 51,100 76,000 Condensed Income Statement Dylex Corporation 154,600 64,500 57,000 Holden Corp 67,000 62.100 (23,200) Courtland Corp 116.900 90,600 (35,500)

Calculate the missing amounts Sales Cost of goods sold Gross profit Operating expenses Net income (loss). ABC Inc 117,300 51,100 76,000 Condensed Income Statement Dylex Corporation 154,600 64,500 57,000 Holden Corp 67,000 62.100 (23,200) Courtland Corp 116.900 90,600 (35,500)

Name: Calculate the missing amountsSalesCost of goods soldGross profitOpera
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Description: Calculate the missing amountsSalesCost of goods soldGross profitOperating expensesNet income (loss).ABC Inc.117,30051,10076,000Condensed Income StatementDylex Corporation154,60064,50057,000Holden Corp67,00062,100(23,200)Courtland Corp116,00090,600(3

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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The Haines Corporation shows the following financial data for 20X1 and 20X2: 20X2 $ 3,000,000 2,060,000 $ 940,000 300,000 $ 640,000 54,400 $ 585,600 204,960 $ 380,640 Sales Cost of goods sold Gross profit Selling & administrative expense Operating profit Interest expense Income before taxes Taxes (35%) Income after taxes 20X1 $ 3,400,000 1,880,000 $ 1,520,000 302,000 $ 1,218,000 48,000 $ 1,170,000 409,500 $ 760,500 For each year, compute the following ratios and indicate how the change in each ratio will affect profitability in 20x2. Note: Input your answers as a percent rounded to 2 decimal places. a. Cost of goods sold to sales b. Selling and administrative expense to sales c. Interest expense to sales 20X1 % % % 20X2 Profitability % Decrease % Increase % Decrease
S18-4 Common-size income statement Data for Muller Pty Ltd and Rose Pty Ltd follow: Muller Rose $18 600 $10 600 6 455 3 541 Net sales Cost of sales Other expenses 13 522 4 185 Profit $ 604 $ 893 Requirements 1 Prepare common-size income statements. 2 Which company earns more profit? 3 Which company's profit is a higher percentage of its net sales?
Using the financial information presented for Alexandria Co., compute the missing amounts. Do not include dollar signs or commas in your answers. If an amount is to be deducted, do NOT include parentheses or negative signs. Sales revenue Sales returns and allowances 40,000 Net sales 90,000 Cost of goods sold Gross profit 70,000 Operating expenses Net income 20,000
The table below contains portions of the income statements of four different companies: 1 2 3. d 200,000 240,000 100,000 15,000 Net Sales 12,000 30,000 Beginning Inventory Net Cost of Purchases 125,000 145,000 e 95,000 55,000 f Goods Available for Sale Ending Inventory Cost of Goods Sold Gross Profit a k 25,000 40,000 10,000 1. b. 90,000 85,000 130,000 Required: Replace the lettered blanks with the appropriate amounts.
프 Presented below is financial information for two different companies. Determine the missing amounts. Sales revenue Sales discounts Sales returns Net sales Cost of goods sold Gross profit Operating expenses Income from operations Other revenues (expenses) Net income Novak Company $204,000 4,400 195,000 117,000 52,200 6,400 Pharoah Company 4,900 7,400 224,000 92,960 58,200 53,800
Fill in the missing amounts. Assume that there are no nonoperating activites. Sales revenue Sales returns and allowances Net sales Cost of goods sold Gross profit Operating expenses Net income Wildhorse Company $96,090 87,000 50,895 18,980 (a) (b) (c) Novak Company $6,690 105,000 48,300 15,300 (d) (e) (f)
Provide the Correct answer of what is the Correct
Net sales Cost of goods sold Selling expenses Administrative expenses Income tax expense Net income Net sales Cost of goods sold Gross profit 2022 Selling expenses $754,000 465,218 122,148 61,828 33,176 71,630 Prepare a schedule showing a vertical analysis for 2022 and 2021. (Round answers to 1 decimal place, e.g. 48.5%.) BRAMBLE CORPORATION Condensed Income Statements For the Years Ended December 31 2022 Amount $754,000 465,218 288,782 2021 122.148 $605,000 392,645 69,575 54,450 21,780 66,550 Percent 100 % 65 % Amount % $605,000 392,645 % 212,355.0 69,575 2021 Percent 100 % % % %
5
Sales revenue Variable cost of goods sold Fixed cost of goods sold Gross profit Variable operating expenses Fixed operating expenses Common fixed costs Operating income (a) $1,360,000 Q Search Baseball V V 919,000 V 123,800 317,200 183,800 85,200 65,000 ($16,800) Soccer $3,900,000 2,535,000 $ 202,200 $ 1,162,800 624,000 91,000 139,000 Basketball $2,560,000 2,065,600 178,000 316,400 Baseball 256,000 78,900 104,900 $308,800 ($123,400) Doug is concerned that two of the company's divisions are showing a loss, and he wonders if the company should stop selling baseball and basketball gear to concentrate solely on soccer gear. Prepare a segment margin income statement. Fixed cost of goods sold and fixed operating expenses can be traced to each division (If the amount is negative then enter with a negative sign preceding the number, e.g.-5.125 or parenthesis, eg (5,125)) C $ Total $7,820,000 5,519,600 $ 504,000 F 1,796,400 1,063,800 255,100 308,900 $168,600 Soccer $ B:
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Fill in the missing amounts.