Jarvis Company wants to know if its profitability has improved. Calculate its profit margin for 2010 and
Question:
Jarvis Company wants to know if its profitability has improved. Calculate its profit margin for 2010 and 2009 using the following data:
Net Income, 2010...........$ 10,000
Net Income, 2009...............8,600
Net Sales, 2010................192,000
Net Sales, 2009...............160,000
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 100% (10 reviews)
By this measure the profitability declined because profit ...View the full answer
Answered By
John Kimutai
I seek to use my competencies gained through on the job experience and skills learned in training to carry out tasks to the satisfaction of users. I have a keen interest in always delivering excellent work
4.70+
11+ Reviews
24+ Question Solved
Related Book For
Financial and Managerial Accounting
ISBN: 978-1439037805
9th edition
Authors: Belverd E. Needles, Marian Powers, Susan V. Crosson
Question Posted:
Students also viewed these Business questions
-
The schedule below presents the trial balance for Prima Consultants Corporation on December 31, 2010. The following information is also available: a. Ending inventory of office supplies, $97. b....
-
Tell whether each of the following accounts is part of net sales, cost of goods sold, operating expenses, or other revenues and expenses, or is not on the income statement: 1. Delivery Expense 2....
-
The following data pertain to Branner, Inc.: Accounts Payable, $10,200; Accounts Receivable, $7,600; Accumulated DepreciationBuilding, $2,800; Accumulated DepreciationEquipment, $3,400; Bonds...
-
???????Need answer for below questionWoolworth Ltd, After Pay Ltd, and Santos Ltd for the years 2021,2020 and 2019. Examine the consolidated Cash Flow Statements foreach companies acr f) If the firm...
-
Suppose that W is a vector space with dimension 5, and U and V are subspaces of W, each of dimension 3. Prove that U V contains a non-zero vector. State a more general result.
-
Add or subtract as indicated. Add. -7r8 + 2r6 3 r5 +5
-
Juliette Shulof Furs (JSF) was a New York corporation that had been in the fur-dealing business for 15 years. George Shulof, an officer of JSF, attended two auctions conducted by Finnish Fur Sales...
-
Michigan Motors is a U.S. corporation with $1 billion of U.S.-source income. In addition, Michigan Motors owns 60% of Detroit Parts, a U.S. corporation with a total of $200 million of U.S.-source in-...
-
Write down a regular expression for the following language: L= {w (p, q): number of p's in w is divisible by 4 }
-
1. Should Bruce Levitt set up another company or, instead, set up an alliance with a foreign company that would sell its products under the Levitt-Safety name. 2. How has Levitt-Safety remained a...
-
The income statement for Sahan Company included the following expenses for 2010: Rent expense.................$ 75,000 Interest expense...............11,700 Salaries expense.............121,000...
-
The trial balance for Best Advisors Service, Inc., on December 31 follows. The following information is also available: a. Ending inventory of office supplies, $300. b. Prepaid rent expired, $610. c....
-
Disclosure of fundamental accounting assumptions are: A. Necessary if they are followed at the time of preparation of financial statements B. Necessary if they are not followed at the time of...
-
Where is the loss on disposal of an asset reported in the financial statements? Select answer from the options below in the Other revenues and expenses section of the income statement as a deduction...
-
What options would be available to Ed and Margaret to access qualified accounts without penalty to fund Kate's college education costs? Take a distribution from Ed's inherited IRA Take a distribution...
-
Describe reputation risk and the potential impacts of reputation-damaging incidents. 5b. What are the major sources of reputation risk for a cruise ship company? What can a cruise ship company do to...
-
Albert and Bethany contribute Land A and Land B, respectively, to Partnership AB. Land A has a tax basis of $100,000 and a value of $600,000; Land B has a tax basis of $100,000 and a value of...
-
What is the primary purpose of key employee life insurance? A. To fund future benefit obligations of the company B. To provide a tax-advantaged, liquid balance sheet asset for use by the corporation...
-
Nextime Ltd. has operating profits (EBIT) of $87 million, a tax rate of 35 percent, net working capital of $129 million, and fixed assets of $285 million. Calculate Nextime's return on invested...
-
Why is a help desk and production support critical to system implementations? Discuss its interrelationship with the problem management and reporting system.
-
Indicate whether each of the following actions is primarily related to (a) Managing cash needs, (b) Setting credit policies, (c) Financing receivables, or (d) Ethically reporting accounts receivable:...
-
Indicate whether each of the following actions is primarily related to (a) Acquisition of long-term assets, (b) Evaluating the financing of long term assets, or (c) Applying accrual accounting to...
-
A piece of equipment that cost $64,800 and on which $36,000 of accumulated depreciation had been recorded was disposed of on January 2, the first day of business of the current year. For each of the...
-
Over a period of four and half years an investment grows to $ 2 0 , 0 0 0 . ( a ) If money in this investment accummlated at a simple interest rate of 8 % , what was the initial amount for the...
-
It is December 3 1 , 2 0 2 3 . Lincoln has an asset ( Basis $ 1 0 , 0 0 0 ; FMV = $ 4 0 , 0 0 0 ) . The gainon the asset is subject to depreciation recapture and will result in $ 3 0 , 0 0 0 in...
-
Define and explain the four basic functions that constitute the management process? What is a partnership? List four advantages and disadvantages of operating a business as partnership? Give an...
Study smarter with the SolutionInn App