Question

Office Update To keep up-to-date with security updates, fixes, and improvements, choose Check for Updates. B29 н 24 For Problems 2, 3, 4. 5 and 6 complete the Profit and Loss Statement using the Information provided: 25 2. 26 27 Net Sales 28 Cost of Merch Sold 29 Gross Margin 30 Expenses 31 Net Profit $25,000.00 100.00% Net Sales 100.00% $11,250.00 Cost of Merch Sold Gross Margin $120,000.00 35.00% Expenses $150,000.00 Net Profit -10.00% 32 33 34 35 36 4. 5. 37 38 Net Sales 39 Cost of Merch Sold 40 Gross Margin $175,000.00 100.00% Net Sales 100.00% Cost of Merch Sold 50.00% Gross Margin $90,000.00 45.00% 41 Expenses 45.00% Expenses 42 Net Profit Net Profit 7.50% 43 44 45 46 6. 47 Gross sales $400,000.00, customer returns $80,000.00, cost of merchandise sold = $128,000.00, expenses $115,000.00 48 49 50 Net Sales 51 Cost of Merch Sold 52 Gross Margin 53 Expenses 54 Net Profit 100.00% 55 56 Test 1 Ready

Answer 1

I have provided a screenshot of excel sheet and written all the formulas used separately in brackets for better understanding of the formula used.

Question Particulars $ % Formula used 2 100% Net Sales $ Cost of Merch Sold | $ ron SoldŞ Gross Margin $ Expenses $ Net Profit $ 25,000.00 11,250.00 11,250.00 | 13,750.00 5,000.00 8,750.00 (=C4-C5) (=C6-08) (=D8*C4) 35% 100% (=C15/D15*D11) (=C11-C13) Net Sales Cost of Merch Sold Gross Margin Expenses Net Profit $ 3,00,000.00 $ 1,80,000.00 $ 1,20,000.00 $ 1,50,000.00 $ 30,000.00 -10% (=C13-C14) 100% Net Sales Cost of Merch Sold Gross Margin Expenses Net Profit $ 1,75,000.00 $ 87,500.00 $ 87,500.00 $ 70,000.00 $ 17,500.00 50% 40% (=C18-C20) (=C18*D20) (=D21*C18) (=C20-C21) Net Sales Cost of Merch Sold Gross Margin Expenses Net Profit $ 2,00,000.00 $ 1,10,000.00 $ 90,000.00 $ 75,000.00 $ 15,000.00 100% (=C27/D27*D25) (=C25-C27) 45% (=C27-C29) 7.50% (=C25*D29) 100% (=400000-80000) Net Sales Cost of Merch Sold Gross Margin Expenses Net Profit $ 3,20,000.00 $ 1,28,000.00 $ 1,92,000.00 $ 1,15,000.00 $ 77,000.00 (=C32-C33) (=C34-C35)