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1,354,218.00 584.431.00 S 1.168.162.00 Compa Cost of goods sold Gross margin or...
Income statement. a. Company A and Company B have taken different approaches to selling glassware. Company...
Income statement. a. Company A and Company B have taken different approaches to selling glassware. Company A has decided to make glass stemware that sells for a premium at $16.98 per glass. Company B has decided to make a less expensive glassware (without stems) that sells for $11.98 per glass. Last year Company A sold 847,000 stemmed glasses; Company B sold 1,388,000 glasses. Given the following additional information about each firm, construct an income statement for each company, and see...
Sales Revenues Cost of Goods Sold Gross Profit s 1,000 600 400 Depreciation Expense Other Operating...
Sales Revenues Cost of Goods Sold Gross Profit s 1,000 600 400 Depreciation Expense Other Operating Expenses S 100 50 Total Operating Expenses Earnings Before Interest& Taxes (EBIT) Interest Expense Eamings Before Taxes Income Tax Expense Net Income 150 250 50 200 100 S 100 Beginning Owner's Equity Net Income Dividends Ending Owner's Equity s 2,950 100 50 S 3,000 Cash Receivables Inventory s 1,000 100 900 Current Assets Long-Term Assets Total Assets s 2,000 7,000 S 9,000 Current Liabilities...
2016 2015 Net sales $728,450 $699,312 Cost of goods sold $200,000 $224,000 Gross margin $528,450 $475,312...
2016 2015 Net sales $728,450 $699,312 Cost of goods sold $200,000 $224,000 Gross margin $528,450 $475,312 Selling/administrative costs $120,000 $125,000 Operating income $408,450 $350,312 Income tax expense $77,606 $66,559 Net income $330,844 $283,753 A common size income statement analysis would show what figure for the following company: A. The 2016 change in operating income is $58,138 B. The change in gross margin is $53,138 C. 2016 operating income (as a percent of net sales) is 56.1% D. The percent change...
Kelly's Kandles Antiques Galore Sales 162400 40,000 Cost of goods sold Gross margin 18500 Selling expenses...
Kelly's Kandles Antiques Galore Sales 162400 40,000 Cost of goods sold Gross margin 18500 Selling expenses 13,500 4,000 16,100 General and Admin.expenses 3500 Net income before tax 49700 Income tax expense 1,200 Net income 37600
A company has net sales of $750,000, cost of goods sold is $500,000, net income is $20,000. What are the company’s gross...
A company has net sales of $750,000, cost of goods sold is $500,000, net income is $20,000. What are the company’s gross margin expense and operating expense?
Income Statement Sales revenue $50 Cost of goods sold 30 Gross profit (gross margin) 20 Selling...
Income Statement Sales revenue $50 Cost of goods sold 30 Gross profit (gross margin) 20 Selling and administrative expenses 10 Income before taxes A Income tax expense 4 Net Income $6 Earnings per share E Balance Sheet Cash $2 Liabilities: Inventory 5 Accounts payable $1 Current assets B Equipment, at cost 10 Shareholders’ Equity: Less: accumulated depreciation C Common stock, $1 par value per share 10 Equipment, net of depreciation 6 D Total assets $13 Total liabilities and s/equity $13...
Calculate the gross profit margin for a firm with sales of $55,000,000 and cost of goods sold of $46,000,000
Question 28Calculate the gross profit margin for a firm with sales of $55,000,000 and cost of goods sold of $46,000,000 Question 29During the latest year XYZ Corporation has total sales of $400,000, net income of 10,000 and its were $250,000. The firm's total debt to total assets ratio was 40%, what is firm's return on assets RONNEn year-end total assets (ROA)?
Cost of Goods Sold, Profit margin, and Net Income for a Manufacturing Company The following information...
Cost of Goods Sold, Profit margin, and Net Income for a Manufacturing Company The following information is available for Bandera Manufacturing Company for the month ending January 31: Cost of goods manufactured $175,030 Selling expenses 58,470 Administrative expenses 30,910 Sales 372,400 Finished goods inventory, January 1 42,080 Finished goods inventory, January 31 38,360 For the month ended January 31, determine Bandera's (a) cost of goods sold, (b) gross profit, and (c) net income. (a) Bandera Manufacturing Company Cost of Goods...
Cost of Goods Sold, Profit margin, and Net Income for a Manufacturing Company The following information...
Cost of Goods Sold, Profit margin, and Net Income for a Manufacturing Company The following information is available for Bandera Manufacturing Company for the month ending January 31: Cost of goods manufactured $224,180 Selling expenses 74,880 Administrative expenses 39,590 Sales 476,970 Finished goods inventory, January 1 53,900 Finished goods inventory, January 31 49,130 For the month ended January 31, determine Bandera's (a) cost of goods sold, (b) gross profit, and (c) net income. (a) Bandera Manufacturing Company Cost of Goods...
The company reported net Income this year as follow:s ales Cost of goods sold Gross margin...
The company reported net Income this year as follow:s ales Cost of goods sold Gross margin Selling and administrative expenses Net operating income Nonoperating items: $2,000,000 1,300,000 700,000 490,000 210,000 $ 60,000 (20,000) Gain on sale of investments Loss on sale of equipment Income before taxes Income taxes Net income 250,000 80,000 $170,000 Using the Indirect method, prepare a statement of cash flows for this year. (List any deduction In cash and cash outflows as negatlve amounts.) Lomax Company Statement...
Income statement. a. Company A and Company B have taken different approaches to selling glassware. Company A has decided to make glass stemware that sells for a premium at $16.98 per glass. Company B has decided to make a less expensive glassware (without stems) that sells for $11.98 per glass. Last year Company A sold 847,000 stemmed glasses; Company B sold 1,388,000 glasses. Given the following additional information about each firm, construct an income statement for each company, and see...
Sales Revenues Cost of Goods Sold Gross Profit s 1,000 600 400 Depreciation Expense Other Operating Expenses S 100 50 Total Operating Expenses Earnings Before Interest& Taxes (EBIT) Interest Expense Eamings Before Taxes Income Tax Expense Net Income 150 250 50 200 100 S 100 Beginning Owner's Equity Net Income Dividends Ending Owner's Equity s 2,950 100 50 S 3,000 Cash Receivables Inventory s 1,000 100 900 Current Assets Long-Term Assets Total Assets s 2,000 7,000 S 9,000 Current Liabilities...
Kelly's Kandles Antiques Galore Sales 162400 40,000 Cost of goods sold Gross margin 18500 Selling expenses 13,500 4,000 16,100 General and Admin.expenses 3500 Net income before tax 49700 Income tax expense 1,200 Net income 37600
Cost of Goods Sold, Profit margin, and Net Income for a Manufacturing Company The following information is available for Bandera Manufacturing Company for the month ending January 31: Cost of goods manufactured $175,030 Selling expenses 58,470 Administrative expenses 30,910 Sales 372,400 Finished goods inventory, January 1 42,080 Finished goods inventory, January 31 38,360 For the month ended January 31, determine Bandera's (a) cost of goods sold, (b) gross profit, and (c) net income. (a) Bandera Manufacturing Company Cost of Goods...
Cost of Goods Sold, Profit margin, and Net Income for a Manufacturing Company The following information is available for Bandera Manufacturing Company for the month ending January 31: Cost of goods manufactured $224,180 Selling expenses 74,880 Administrative expenses 39,590 Sales 476,970 Finished goods inventory, January 1 53,900 Finished goods inventory, January 31 49,130 For the month ended January 31, determine Bandera's (a) cost of goods sold, (b) gross profit, and (c) net income. (a) Bandera Manufacturing Company Cost of Goods...
The company reported net Income this year as follow:s ales Cost of goods sold Gross margin Selling and administrative expenses Net operating income Nonoperating items: $2,000,000 1,300,000 700,000 490,000 210,000 $ 60,000 (20,000) Gain on sale of investments Loss on sale of equipment Income before taxes Income taxes Net income 250,000 80,000 $170,000 Using the Indirect method, prepare a statement of cash flows for this year. (List any deduction In cash and cash outflows as negatlve amounts.) Lomax Company Statement...
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