Homework Answers
| Marigold Corp. | Swifty Corporation | |
| Sales revenue | $74,000 | $87,400 (3,400+84,000) |
| Sales returns and allowances | 6,000 ($74,000-68,000) | 3,400 |
| Net sales | 68,000 | 84,000 |
| Cost of goods sold | 51,000 | 57,120 (84,000-26,880) |
| Gross profit | 17,000 (68,000-51,000) | 26,880 |
| Operating expenses | 10,880 | 18,480 (26,880-8,400) |
| Net income | $6,120 | $8,400 |
Profit margin ratio = Net income / Net sales *100
| Marigold Corp. | Swifty Corporation | |
| Profit margin ratio | $6,120/68,000*100 | $8,400/84,000*100 |
| = 9% | = 10% |
Gross margin rate = Gross profit / Net sales *100
| Marigold Corp. | Swifty Corporation | |
| Gross margin rate | $17,000/68,000*100 | $26,880/84,000*100 |
| = 25% | = 32% |
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Financial information for two companies are presented below....
Financial information for two companies are presented below. Fill in the missing amounts. Monty Corp. Whispering...
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