Prepare a multi-step income statement for Mumakeipe Sdn. Bhd. (an engineering wiring service) for the year...
Prepare a multi-step income statement for Mumakeipe Sdn. Bhd. (an engineering wiring service) for the year ending December 31, 2017 given the information below:
Interest expense 17540
Cost of goods sold (COGS) 256500
Depreciation expense 11690
Management salaries 17,950
Advertising expenditures 12,930
Gross Sales 520600
Taxes 3,270
Returns and allowances 10940
Rental payments 39,270
R&D expenditures 5990
Repairs and maintenance costs 2,910
a) What is Mumakeipe's gross profit? Format :
947870
b) What is Mumakeipe's operating profit? Format :
737380
c) What is Mumakeipe's net profit? Format : 379860
d) What is Mumakeipe's net profit margin? Format :
0.74
Homework Answers
Hello,
Please find the answer below:
| Gross Profit | |
| Gross Sales | 520600 |
| Returns and allowances | 10940 |
| Cost of goods sold (COGS) | 256500 |
| Gross Profit | 253160 |
| Operating Profit | |
| Gross Profit | 253160 |
| Depreciation expense | 11690 |
| Rental payments | 39270 |
| Management salaries | 17950 |
| Advertising expenditures | 12930 |
| R&D expenditures | 5990 |
| Repairs and maintenance costs | 2910 |
| Operating Profit | 162420 |
| Net Profit | |
| Operating Profit | 162420 |
| Interest expense | 17540 |
| Taxes | 3270 |
| Net Profit | 141610 |
Net Sales: 520600-10940 = 509660
Net Profit = 141610
NPM = Net Profit/Net Sales
=141610/509660
=0.28
Hope this helps. Thank you!!
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