Sarasota Corp. reported net sales $ 600,000, cost of goods sold $ 336,000, operating expenses $ 160,000, and net income S 63,600. Calculate the profit margin a (Round Profit margin answer to
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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 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?The 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.)
- Sarasota Corp. reported net sales S 600,000, cost of goods sold $ 336,000, operating expenses $ 160,000, and net income S 63,600. Calculate the profit margin ay (Round Profit margin answer toAssume 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 %24Calculate the gross and net profits (in $) and the two profit margins (as %s) for the given company. (Round profit margins to the nearest tenth of a percent.) Company Net Sales Cost ofGoods Sold GrossProfit OperatingExpenses Net Profit Gross ProfitMargin (%) Net ProfitMargin (%) an optometry store $327,735 $201,655 $ $83,921 $ % %
- Calculate the gross and net profits (in $) and the two profit margins (as %s) for the given company. (Round profit margins to the nearest tenth of a percent.) Gross Profit Margin (%) 38.43 % Company Net Sales an optometry store $340,735 Cost of Goods Sold $209,655 $ Gross Profit Operating Expenses $83,921 Net Profit $ 47,159 ✓ Net Profit Margin (%) %Determining gross profitDuring 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?b. Compute the gross profit percentage (gross profit divided by sales).c. Will the income statement always report a operating income? Explain.Assume 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
- 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.salamagundi, inc. has the following income statement: For the year ended December 31, 2021 net sales: $160 Cost of goods sold: $100 gross profit: $60 Operating expenses: $40 Net income: $20 Using vertical analysis, what percentage is assigned to operating expenses? a. 25% b. 40% c. 66.7% d. 200%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.