FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Your answer is correct.
Fill in the missing amounts.
Yanik
Nunez
Company Company
Sales revenue
$170,100 198450
$ 9,450
11340
158,760
Sales returns and allowances
Net sales
189,000
Cost of goods sold
109,620
113400|
Gross profit
$49140
75,600
Operating expenses
27,178
43470
Net income
$21962
32,130
Attempts: 1 of 3 used
*(b)
Calculate the profit margin and the gross profit rate for each company. (Round answers to 0 decimal places, e.g. 15%.)
Yanik
Nunez
Profit margin
1%
1%
Gross profit rate
1%
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Transcribed Image Text:Your answer is correct. Fill in the missing amounts. Yanik Nunez Company Company Sales revenue $170,100 198450 $ 9,450 11340 158,760 Sales returns and allowances Net sales 189,000 Cost of goods sold 109,620 113400| Gross profit $49140 75,600 Operating expenses 27,178 43470 Net income $21962 32,130 Attempts: 1 of 3 used *(b) Calculate the profit margin and the gross profit rate for each company. (Round answers to 0 decimal places, e.g. 15%.) Yanik Nunez Profit margin 1% 1% Gross profit rate 1%
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