Homework Answers
Question 1. Solution:
Gross profit margin 2015 = Gross profit / Sales revenue
= (Sales - COGS) / $12,279.6 million
= ($12,279.6 - 7,747.1) / $12,279.6 million
= 36.9% (rounded off)
Gross profit margin 2014 = ($12,462.9 - 8,033.2) / 12,462.9 = 35.5% (rounded off)
Profit margin 2015 = Net income / Sales revenue
= $735.9 / 12,279.6 million
= 6.0%
Profit margin 2014 = $639.3 / 12,462.9 = 5.1%
Question 2.
Solution: Part 1. Net sales = Sales - sales returns & allowance - sales discount
= $1,101,000 - 23,000 - 18,300 = $1,059,700
Part 2. Gross profit = Net sales - COGS = $1,059,700 - 652,800 = $406,900
Part 3. Income from operation = Gross profit - Operating expense
= $406,900 - (159,000 + 111,100 )
= $406,900 - $270100 = $136,800
part 4. Income before income tax = $136,800 + 25,400 - 34,600 = $127,600
Part 5. Net Income = $127,600 - 28,000 = $99,600
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