Gross profit in 2022 for the Maple Corporation totalled $800,000. If the cost of goods sold was 70% of sales, sales must have been A: $1,142,857 B: $1,333,333 C: $2,666,667 D: $560,000

Burrow Corporation had the following information for the year ended December 31, 2020: Sales Revenue $70,000 Cost of Goods Sold 30,000 Operating Expenses 15,000 Net Income 25,000 What is Burrow Corporation's gross profit ratio (rounded) for the year 2020?

The following comparative information is available for Blossom Company for 2025. LIFO FIFO Sales revenue $89,000 $89,000 Cost of goods sold 37,000 29,000 Operating expenses (including depreciation) 27,000 27,000 Depreciation 10,000 10,000 Cash paid for inventory purchases 20,750 20,750 (a) Determine net income under each approach. Assume a 30% tax rate. LIFO Net income $ FIFO

Calculate gross profit

What is the gross profit that Brighton electronics would report?

During 2020, Bramble Co. generated revenues of $102000. The company’s expenses were as follows: cost of goods sold of $41000, operating expenses of $16000 and a loss on the sale of equipment of $2700.Bramble’s gross profit is $42300. $45000. $102000. $61000.

ABC Company has the following information for the year ended December 31, 2022:   Sales revenue: $1,500,000 Cost of goods sold: $800,000 Operating expenses: $300,000 Interest expense: $50,000 Income tax rate: 30% Calculate the net income for ABC Company for the year ended December 31, 2022.

​Milton, Inc. provides the following income statement for​ 2025:   Net Sales ​$240,000 Cost of Goods Sold ​110,000 Gross Profit ​$130,000 Operating​ Expenses:   Selling Expenses ​45,000 Administrative Expenses ​12,000 Total Operating Expenses ​57,000 Operating Income ​$73,000 Other Income and​ (Expenses):   Loss on Sale of Capital Assets ​(26,000​) Interest Expense ​(1,000​) Total Other Income and​ (Expenses) ​(27,000​) Income Before Income Taxes $46,000 Income Tax Expense 5,000 Net Income $41,000   Calculate the times−interest−earned ratio.​ (Round your answer to two decimal​ places.)

The following information was taken from the financial statements of Sunland Company:     2021     2020   Gross profit on sales   $678,600         $760,000       Income before income taxes   205,400         225,000       Net income   260,000         225,000       Net income as a percentage of net sales   10%     9%   Please show steps to finding answer   Compute the cost of goods sold in dollars and as a percentage of net sales for each year. (Round percentages to 1 decimal place, e.g. 15.2%)     2021     2020   Cost of goods sold in dollars   $enter a dollar amount      $enter a dollar amount    Cost of goods sold as a percentage of net sales   nter percentages rounded to 1 decimal place %   nter percentages rounded to 1 decimal place %

Crane Manufacturing Ltd's sales for the year ended December 31, 2022 are $1.24 million. The expenses for 2022 are as follows: Cost of goods sold Selling expenses Variable Fixed $416,000 $234.000 34,320 46,800 72,800 Administrative expenses 36,320 Prepare a detailed CVP income statement for the year ended December 31, 2022. Crane Manufacturing Ltd. CVP Income Statement