Complete the following income statement and vertical analysis? Marten's Family Store Income Statement For Year Ending December
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Marten's Family Store Income Statement For Year Ending December 31, 2013 Percent of net sales Revenue: Gross sales Sales returns and allowances Net sales Cost of goods sold: Beginning inventory, January 1, 2013 Purchases Ending inventory, December 31, 2013 Cost of goods sold Gross profit from sales Operating expenses: Salary Rent Utilities Insurance Fees Depreciation Miscellaneous Total operating expenses Net income $238,923 13,815 25,814 109,838 23,423 42,523 8,640 1,484 2,842 860 1,920 3,420 61,689
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Net sales 238923 13815 225108 Gross profit from sales 225108 112229 112879 Net income 1...View the full answer
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Related Book For
Business Math
ISBN: 978-0133011203
10th edition
Authors: Cheryl Cleaves, Margie Hobbs, Jeffrey Noble
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