Question: Presented below is financial information for two different companies. Instructions (a) Determine the missing amounts. (b) Determine the gross profit rates. (Round to one decimal

Presented below is financial information for two different companies.

Instructions

(a) Determine the missing amounts.

(b) Determine the gross profit rates. (Round to one decimal place.)

Summer Company S92,000 Winter Company Sales revenlie Sales returns Net sles Cost of goods sold Gross profit Operating expenses Net income 5,000 102,000 41,500 18,000 87,000 56,000 15,000

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