Problem 4.2 A classified income statement showed net sales of $630,000, cost of goods sold of $342,000, and total operating expenses of $192,000 for the fiscal year ended June 30, 2019. 1. What was the gross profit on sales? 2. What was the net income from operations?

find out both questions solutions for this account

What are the following amounts for the year ended 2/1/20:   Net Sales _________ Cost of Goods Sold ____________ Gross Margin ____________ Gross Margin Percentage ____________ Operating Income ____________ Net Income ____________

A classified income statement showed net sales of $630,000, cost of goods sold of $342,000, and total operating expenses of $192,000 for the fiscal year ended June 30, 2019. 1. What was the gross profit on sales? 2. What was the net income from operations?

Determining Gross Profit During the current year, merchandise is sold for $665,000. The cost of the merchandise sold is $392,350. a.  What is the amount of the gross profit?$fill in the blank 1 b.  Compute the gross profit percentage (gross profit divided by sales). fill in the blank 2% c.  When will the income statement necessarily report a net income?

ASSESSMENT: Problem #1: On June 30, 2020, PSA Trading Co. has the following informatign: revenue from sales is Po8,760; sales return is P35,50o; cost of goods sold is P8.490: salaries cost P 14,600; rent is P8,090; light and water expenses are P7.550 and miscellaneous expenses are Po,520.Generate an income statement and find: a. Gross Profit b. Net Profit or Loss Problem #2: AMA 6operative store had the following activities for year ended 2021: gross sales amounting to Po4,653, the cost of goods sold was P48,923, the operating expensés were, P8,723.15, and refunds for defective goods amounted to P26,497.15. Generate an income slatemeni and find: a. Net Sales b. Gross Profit c. Net Profit Problem #3: AMA cooperative store had the following activities for year ended 2021: gross sales amounting to P94,653, the cost of goods sold was P48,923, the operating expenses were, P8,723.15, and refunds for defective goods amounted to P26,497.15. Generate an income statement and find: a. Net Sales…

horizontal analysis

a,b, and c please

Determining Gross Profit During the current year, merchandise is sold for $8,100,000. The cost of the goods sold is $4,698,000. a. What is the amount of the gross profit? $fill in the blank 1 b. Compute the gross profit percentage (gross profit divided by sales). fill in the blank 2 % c. Will the income statement always report a operating income? Yes No

Determining Gross Profit During the current year, merchandise is sold for $863,000. The cost of the goods sold is $647,250.