Security First Income Statement For the Year Ended May 31, 2018     Product Line       Industrial Household       Systems Systems Total   Net Sales Revenue $310,000 $330,000 $640,000   Cost of Goods Sold:         Variable 35,000 43,000 78,000   Fixed 240,000 64,000 304,000   Total Cost of Goods Sold 275,000 107,000 382,000   Gross Profit 35,000 223,000 258,000   Selling and Administrative Expenses:         Variable 68,000 70,000 138,000   Fixed 40,000 22,000 62,000   Total Selling and Administrative Expenses 108,000 92,000 200,000   Operating Income (Loss) $(73,000) $131,000 $58,000   Members of the board of directors of Security First have received the following operating income data for the year ended may 31, 2018. Requirement 1. Prepare a differential analysis to show whether Security First should drop the industrial systems product line.​ (Use parentheses or a minus sign to enter decreases to​ profits.)                                       in operating income       2. Prepare contribution margin income statements to show Security First's total operating income under the two​ alternatives: (a) with the industrial systems line and​ (b) without the line. Compare the difference between the two​ alternatives' income numbers to your answer to Requirement 1.   3. What have you learned from the comparison in Requirement​ 2?

According to the producer price index database maintained by the Bureau of Labor Statistics, the average cost of computer equipment fell 3.8 percent between January and December 2018. Let's see whether these changes are reflected in the income statement of Gonzalez Industries for the year ended December 31, 2018. Sales Revenue Cost of Goods Sold Gross Profit Selling, General, and Administrative Expenses Interest Expense Income before Income Tax Expense Income Tax Expense Net Income Required 1 Required 2 Required 3 2018 $ 105,000 62,500 42,500 36,500 Required: 1. Compute the gross profit percentage for each year. Assuming the change from 2017 to 2018 is the beginning of a sustained trend, is Gonzalez likely to earn more or less gross profit from each dollar of sales in 2019? 2. Compute the net profit margin for each year. Did Gonzalez do a better or worse job of controlling operating expenses in 2018 relative to 2017? 550 5,450 1,500 $ 3,950 3. Gonzalez reported average net fixed assets…

Mainely Lobster Income Statement Year Ended December 31, 2021 Sales $2,160,000 Cost of Goods Sold $640,000 $192,000 $320,000 Direct Materials Direct Labor Manufacturing Overhead Total Cost of Goods Sold 1,152.000 Gross Margin 1,008,000 Selling and Administrative Expenses Variable Selling expenses Fixed Selling expenses Total administrative expenses Total Selling and Administrative Expenses 224,000 250,000 160.000 634,000 Net Operating Income $ 374,000

The parts department shows gross sales of $116,000 and cost of goods sold of $38,000. What is the gross profit percentage of the parts department? a.32.8% b.48.7% c.51.3% d.67.2%