Lone Star, Inc., reported sales of $560,000, cost of sales of $240,000, and operating expenses of $130,000 for the current year. Using this information, calculate the amount of net income and net income as a percentage of sales.
Answer to relevant QuestionsMulti-Star, Inc., had sales of $890,000, cost of sales and operating expenses of $450,000 and $200,000, respectively, and 10,000 shares of common stock outstanding. Calculate the amount of earnings per share. Joe Felan is the production manager at Utex Corporation. He was recently quoted as saying, “Since management reports aren’t subject to generally accepted accounting principles, and they aren’t directly used by outside ...Identify a non-value-added activity at a grocery store, a bank, and a hotel. Explain how each organization might be able to eliminate the non-value-added activity identified.Tom Klem is the controller of Watson Manufacturing, Inc. He estimates that the company’s break-even point in sales dollars is $2 million. However, he recently told all of the regional sales managers that sales of $3 ...A variety of products—chicken wings, drumsticks, thighs, and so on—are the result of a joint production process of butchering a chicken that costs $0.25 per pound. The wings can be sold at the split-off point for $0.35 ...
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