A skeleton of Pine Florals' income statement appears as follows (amounts in thousands): Use the following ration

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A skeleton of Pine Florals' income statement appears as follows (amounts in thousands):

Use the following ration data to complete Pine Florials' income statement:
a. Inventory tunover was 4 (beginning inventory was $780; ending inverntory was $750).
b. Rate of return ofn sales (after inco e taxes) is 0.10.

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Financial Accounting

ISBN: 978-0134127620

11th edition

Authors: Walter Harrison, Charles Horngren, William Thomas, Wendy Tietz

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Question Posted: Aug 01, 2016 01:53 PM

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A skeleton of Pine Florals' income statement appears as follows (amounts in thousands): Use the following ration

Question:

Income Statement Net sales $ 7,200 Cost of goods sold Selling expenses 1516 1,334 Administrative expenses Interest expense Other expenses Income before taxes Income tax expense Net income 153 1,045

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Income Statement Thousands Net sales 7200 Cost of goods sold 3 ...View the full answer

Financial Accounting

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