Revenue $1,000,000 Cost of Goods Sold 500,000 Total Operating Expenses 300,000 70,000 Net Income 130,000 Tax...
Use the following information for the next 2 problems Jones Inc. FY 2018 Revenue $1,000,000 Cost of Goods Sold 500,000 Total Operating Expenses 300,000 Тax 70,000 Net Income 130,000 The net profit margin ratio for Jones Corporation for 2018 is: O 10.0% O 13.0% O 7.0% O 50.0%
In 2018, Martinez Corporation reported net sales of $232,900, cost of goods sold of $139,700, operating expenses of $45,500, and income tax expense of $21,600. In 2017, it reported net sales of $213,000, cost of goods sold of $103,700, operating expenses of $39,000, other revenues of $10,300, and income tax expense of $13,700. Calculate the gross profit and net income for each year. 2018 2017 Gross profit Net income $ LINK TO TEXT LINK TO TEXT Calculate the gross profit...
Sales Less: Cost of goods sold Gross profit Less: Operating expenses Net operating income Less: Interest expense Earnings before taxes Less: Taxes (35%) Net income 4,500,000 (3,500,000) 1,000,000 (500,000) $500,000 (100,000) $400,000 (140,000) $260,000 We were unable to transcribe this imageCurrent assets Net fixed assets Total Assets $500,000 Liabilities ,500,000 Owners equity $1,000,000 1,000,000 $2,000,000 $2,000,000 Total
Net sales Cost of goods sold $220,000 $160,000 140,800 102,400 48,700 21,400 Operating expenses Income tax expense 14,000 9,000 Net income $ 16,500 $27,200 Determine the company's gross profit rate and profit margin for both years. (Round profit margin answers to 1 decimal place, e.g. 52.7.) 2017 2016 Gross profit rate Profit margin
Carney's current income statement shows the following: $500,000 Sales revenue Cost of goods sold Variable costs Fixed costs Gross profit · Selling and administrative expenses Variable costs Fixed costs Net income $150,000 150,000 300,000 200,000 100,000 50,000 150,000 $50,000 What is Carney's margin of safety? $50,000 $125,000 $100,000 $166,667
Financial information is presented below: Operating expenses $ 28000 Sales revenue 214000 Cost of goods sold 139000 The profit margin ratio would be:
A pet store reported the following: Net Sales.. $689,000 Cost of Goods Sold.. $357,000 Operating Expenses.. $202,000 What is the “$ Net Profit/Net Loss” and “% for Operating Expenses” (round to one decimal place)? A. $130,000 Net Profit; 29.3% Operating Expenses B. $130,000 Net Loss; 29.3% Operating Expenses C. $534,000 Net Loss; 77.5% Operating Expenses D. $534,000 Net Profit; 77.5% Operating Expenses
Brief Exercise 5-10 In 2018, Modder Corporation reported net sales of $250,000, cost of goods sold of $137,500, operating expenses of $50,000, and income tax expense of $20,000. In 2017, it reported net sales of $200,000, cost of goods sold of $114,000, operating expenses of $40,000, other revenu $10,000, and income tax expense of $15,000. Calculate the gross profit and net income for each year. 2018 2017 Gross profit $ Net income Calculate the gross profit margin and profit margin...
Sales revenue Cost of goods sold Gross profit Selling and administrative expenses Operating income Interest expense Income before tax Income tax expense Net income 2018 R 70,000 42,000 R 28,000 20,000 R8,000 2,000 R6,000 2,000 R 4,000 2017 R 60,000 30,000 R 30,000 14,000 R16,000 2,000 R14,000 3,000 R11,000 Required: 1. Prepare common-size comparative income statements for the two years for Beach Motors (Pty) Ltd (11) 2. What observations can you make about the common-size statements? List at least four...
$ $ Other Income and (Expenses) Net Sales Revenue Gain on Discontinued Operations (7,200) 81,000 Cost of Goods Sold Operating Expenses 30,000 25,000 3,600 Prepare ABC's income statement for the year ended December 31, 2018. Omit earnings per share. Use the multi-step format. ABC Corporation Income Statement Year Ended December 31, 2018 Net Sales Revenue $ 81,000 30,000 Cost of Goods Sold Gross Profit Operating Expenses Operating Income Other Income and (Expenses) Income Before Income Taxes 51,000 25,000 26,000 (7,200)...