Use the information given below: Income Statement Information: Sales revenue Cost of goods sold Net income 2018 2017 $8,004,000 $7,800,000 $5,282,640 $5,300,000 $327,120 $188,000 Balance Sheet Information: Current assets $1,540,000 $1,440,000 Long-term assets $2,140,000 $1,840,000 $3,680,000 $3,280,000 $1,140,000 $840,000 Total assets Current liabilities Long-term liabilities Common stock Retained earnings $1,560,000 $1,560,000 $740,000 $740,000 $240,000 $140,000 Total liabilities and stockholders' equity $3,680,000 $3,280,000 Calculate the Profit margin ratio for 2018.

Use the information given below: Income Statement Information: Sales revenue Cost of goods sold Net income 2018 2017 $8,004,000 $7,800,000 $5,282,640 $5,300,000 $327,120 $188,000 Balance Sheet Information: Current assets $1,540,000 $1,440,000 Long-term assets $2,140,000 $1,840,000 $3,680,000 $3,280,000 $1,140,000 $840,000 Total assets Current liabilities Long-term liabilities Common stock Retained earnings $1,560,000 $1,560,000 $740,000 $740,000 $240,000 $140,000 Total liabilities and stockholders' equity $3,680,000 $3,280,000 Calculate the Profit margin ratio for 2018.

Fundamentals of Financial Management (MindTap Course List)

15th Edition

ISBN:9781337395250

Author:Eugene F. Brigham, Joel F. Houston

Publisher:Eugene F. Brigham, Joel F. Houston

Chapter4: Analysis Of Financial Statements

Section: Chapter Questions

Problem 24P: Income Statement for Year Ended December 31, 2018 (Millions of Dollars) Net sales 795.0 Cost of...

See similar textbooks

Similar questions

Need answer this accounting question
please explain the result of income statement that provided in image below
Conduct a vertical and horizontal analysis in the given data
Subject:
Cost of goods sold: Investment income: Net sales: Operating expense: Interest expense: Dividends: Tax rate: Current liabilities: Cash: Long-term debt: Other assets: Fixed assets: Other liabilities: Investments: Operating assets: $ 200,000 $ 2,700 $333,000 $ 47,000 $ 7,400 $ 16,000 Price-book ratio Price-earnings ratio Price-cash flow ratio 21% $ 26,000 $ 21,000 $ 21,000 $ 43,000 $ 159,000 $ 5,000 $ 47,000 $ 39,000 During the year, Smashville, Incorporated, had 17,000 shares of stock outstanding and depreciation expense of $19,000. At the end of the year, Smashville stock sold for $56 per share. Calculate the price-book ratio, price-earnings ratio, and price-cash flow ratio. Note: Do not round intermediate calculations. Round your answers to 2 decimal places. 3.70
need formula for cost of goods sold CURRENT ASSETS Cash and cash equivalents $ 607,987 $ 480,626 Accounts receivable, net 104,500 80,545 Inventory 26,445 26,096 Prepaid expenses and other current assets 54,906 57,076 Income tax receivable 282,783 27,705 Investments 343,616 400,156 Total current assets 1,420,237 1,072,204 Leasehold improvements, property and equipment, net 1,584,311 1,458,690 Long term investments 102,328 0 Restricted cash 27,849 27,855 Operating lease assets 2,767,185 2,505,466 Other assets 59,047 18,450 Goodwill 21,939 21,939 Total assets 5,982,896 5,104,604 Current liabilities: Accounts payable 121,990 115,816 Accrued payroll and benefits 203,054 126,600 Accrued liabilities 164,649 155,843 Unearned revenue 127,750 95,195 Current operating lease liabilities 204,756 173,139 Total current liabilities 822,199 666,593 Commitments and contingencies (Note 12) Long-term operating lease liabilities 2,952,296…
Please help me with show all calculation thanku
Problem: The financial statements of Muscat Company appear below: MUSCAT COMPANY Income Statement For the Year Ended December 31, 2023 Net sales Cost of goods sold Gross profit \table[[$400,000de
Comparative income statements and balance sheets for F&N are shown below ($ millions): Year 2 Year 1 Income Statement $19,889 6,204 Net sales. $20,092 6,044 Cost of goods Gross profit. Selling, general, and administrative expense Depreciation and amortization expense Interest expense (revenue) 14,048 7,893 803 (308) 13,685 9,221 773 292 3,399 1,222 Income before tax 5,660 1,691 Income tax expense. Net income $ 3,969 $ 2,177 Outstanding shares 3,491 3,481
What is the percent change for cost of goods sold?
Consider the following income statement: Sales Costs Depreciation Taxes Calculate the EBIT. EBIT $748,168 486,752 110,700 Net income 23% Calculate the net income.
A company reported the following data for the year ending 2018: Description Amount Sales Sales discount Sales returns and allowances $400,000 $16,000 $13,000 $117,000 $153,000 |Cost of goods sold |Operating expense Income tax expense $23,750 Compute the amount of gross profit to be reported on the income statement. a. $101,000 b. $117,000 c. $254,000 d. $124,750 Answer O O O O