Financial information is presented here for two companies. Fill in the missing amounts. (Do not express any of the numbers in parenthesis.)


Young Ltd.
Sales: $90,000
Sales Returns: ?
Net Sales: $81,000
Cost of Sales: $56,000
Gross Profit: ?
Operating Expenses: $15,000
Profit: ?

Rice Ltd.
Sales: ?
Sales Returns: $5,000
Net Sales: $95,000
Cost of Sales: ?
Gross Profit: $38,000
Operating Expenses: ?
Profit: $15,000

Calculate the profit margin ratio and the gross profit rate for each company. (Use percentage form for the ratios and round the ratios to 1 decimal place.)

Profit margin ratio
Young Ltd %
Rice Ltd %

Gross profit rate
Young Ltd %
Rice Ltd %

Answer rating: 100% (QA)

Lets fill in the missing amounts first For Young Ltd 1 Sales Returns Sales Net Sales 90000 81000 ... View the full answer