SERVICE REVENUE $ 281,000 120,000 161,000 Sales revenue, net Cost of goods sold Gross profit OPERATING EXPENSES Selling expenses Wages expense - selling Fuel expense- selling Depreciation expense - selling Total selling expenses General and administrative expenses 15,000 20,000 45,000 80,000 Rent expense - administrative Office supplies expense - administrative 12,000 15,000 27,000 107,000 54,000 Total general and administrative expenses Total operating expenses Total incorme from operations OTHER EXPENSES Interest expense 2,000 52,000 Total incorne before tax Income tax expense 13,000 39,000 Net incorme Eamings Per Share (EPS) 0.65 What is Carson's Bakery gross profit margin? 13.87% О 38.87% 33.54% 57.29%

SERVICE REVENUE $ 281,000 120,000 161,000 Sales revenue, net Cost of goods sold Gross profit OPERATING EXPENSES Selling expenses Wages expense - selling Fuel expense- selling Depreciation expense - selling Total selling expenses General and administrative expenses 15,000 20,000 45,000 80,000 Rent expense - administrative Office supplies expense - administrative 12,000 15,000 27,000 107,000 54,000 Total general and administrative expenses Total operating expenses Total incorme from operations OTHER EXPENSES Interest expense 2,000 52,000 Total incorne before tax Income tax expense 13,000 39,000 Net incorme Eamings Per Share (EPS) 0.65 What is Carson's Bakery gross profit margin? 13.87% О 38.87% 33.54% 57.29%

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter6: Cost Of Goods Sold And Inventory

Section: Chapter Questions

Problem 48E

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