5. The 2023 income statements for the Dent Company and the Blumer Company appear below: Blumer...

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5. The 2023 income statements for the Dent Company and the Blumer Company appear below: Blumer Company $520,000 Net sales Cost of goods sold Gross margin Operating expenses Net income Dent Company $2,100,000 (950,000) 1,150,000 735,000 $415,000 Requirement: a. What is the gross margin percentage for each company? Carry out each percentage one decimal point. Example 25.7% Dent Company Blumer Company b. What is the net income percentage for each company? Dent Company Blumer Company (215,000) 305,000 146,000 $159.000 [10 points] [10 points] 5. The 2023 income statements for the Dent Company and the Blumer Company appear below: Blumer Company $520,000 Net sales Cost of goods sold Gross margin Operating expenses Net income Dent Company $2,100,000 (950,000) 1,150,000 735,000 $415,000 Requirement: a. What is the gross margin percentage for each company? Carry out each percentage one decimal point. Example 25.7% Dent Company Blumer Company b. What is the net income percentage for each company? Dent Company Blumer Company (215,000) 305,000 146,000 $159.000 [10 points] [10 points]

Answer rating: 100% (QA)

Answer 1 Gross margin percentage of Dent company Total sales cost of goods sold Total sal... View the full answer