Question: Financial information is presented here for two companies. Instructions (a) Fill in the missing amounts. Show all computations. (b) Calculate the profit margin ratio and

Financial information is presented here for two companies.

Instructions
(a) Fill in the missing amounts. Show all computations.
(b) Calculate the profit margin ratio and the gross profit rate for each company.
(c) Discuss your findings in part(b).

Pratt Wig Company $90,000 Company Sales Sales returns Net sales Cost of goods sold Gross profit Operating expenses Net income 5,000 84,000 56,700 100,000 40,000 18,000 14,580

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