Calculate the gross profit margin Net Sales Cost of Goods Sold Gross Margin Operating Expenses: Owner's Salary
Fantastic news! We've Found the answer you've been seeking!
Question:
Calculate the gross profit margin
Transcribed Image Text:
Net Sales Cost of Goods Sold Gross Margin Operating Expenses: Owner's Salary Employees' Wages Employee benefits Payroll Taxes Total Payroll/Personnel Rent Utilities Repairs ********* Taxes Interest on Loans Advertising Insurance Depreciation Telephone Outside Services ***** Office Supplies Donations *********** Total Occupancy Costs *********** ************ ELAINE'S HOME IMPROVEMENT CENTER Profit and Loss Statement Year Ending December 3 1, 0000 ********** ******* ********* Other (Miscellaneous) *********** Total Other Costs of Doing Business Net Profit ********** *************.. ********** Amount $155,000 105.726 $ 49,274 9,998 17,437 651 1.240 $ 29,326 3,333 1,085 185 $ 4,603 $ 697 806 2,635 698 620 465 1,395 465 155 155 8,091 $7,254 Net Sales Cost of Goods Sold Gross Margin Operating Expenses: Owner's Salary Employees' Wages Employee benefits Payroll Taxes Total Payroll/Personnel Rent Utilities Repairs ********* Taxes Interest on Loans Advertising Insurance Depreciation Telephone Outside Services ***** Office Supplies Donations *********** Total Occupancy Costs *********** ************ ELAINE'S HOME IMPROVEMENT CENTER Profit and Loss Statement Year Ending December 3 1, 0000 ********** ******* ********* Other (Miscellaneous) *********** Total Other Costs of Doing Business Net Profit ********** *************.. ********** Amount $155,000 105.726 $ 49,274 9,998 17,437 651 1.240 $ 29,326 3,333 1,085 185 $ 4,603 $ 697 806 2,635 698 620 465 1,395 465 155 155 8,091 $7,254
Expert Answer:
Answer rating: 100% (QA)
Answer 1 Cost of goods sold 4900012525 9800 will be removed as intra entity transfer Pol... View the full answer
Related Book For
Financial Reporting and Analysis
ISBN: 978-1259722653
7th edition
Authors: Lawrence Revsine, Daniel Collins, Bruce Johnson, Fred Mittelstaedt, Leonard Soffer
Posted Date:
Students also viewed these finance questions
-
Polar Inc. acquired an 80% interest in Icecap Co. The book values of Icecap's asset and liability accounts at that time were considered to be equal to their fair values. Polar's acquisition value...
-
A physical-fitness center has found that, of those members who perform high- impact exercising (1), will either repeat high-impact exercising, or do medium-impact exercising (2), low- impact...
-
IceCap Hotels operates a series of northern European hotels and reports under IFRS. On June 30, 2016, IceCap purchased land for 3,000,000. IceCap reports land values on the balance sheet under...
-
In a recent year, the total scores for a certain standardized test were normally distributed, with a mean of 500 and a standard deviation of 10.4. Answer parts (a)-(d) below. (a) Find the probability...
-
Briefly summarize the important characteristics and applications of the Bernoulli, binomial, and Poisson distributions.
-
The blow down cock is fitted in a boiler because of (a) allowing steam to flow to turbine (b) allowing exhaust gases to go to chimney (c) removing sludge from the boiler (d) blowing air in the furnace
-
A study on aggressive driving found that 47% of drivers say they have yelled at another driver. You randomly select 200 drivers in the United States and ask them whether they have yelled at another...
-
Suppose that Carrier Lumber Ltd, a Canadian forest products company, sells lumber to Home Depot. In return, Home Depot will pay Carrier US$1,000,000 in 90 days. At a current exchange rate of...
-
The Fleming Medical Group financial results are under budget for the first six months of 2022. Using the following table, calculate the volume, revenue, and cost variances for all variances greater...
-
Erica and Bob participate in a friendly Hackathon that allows each to solve one question a day out of the three offered. There will be one easy, one medium and one hard question, with points awarded...
-
Let R be a continuous random variable with the following probability density function (pdf): 12r2(1-r), if 0
-
My course product is the Breezy Blaster, a full-body automatic dryer that is compact and more affordable than those currently on the market. This product is ideal for college students or young adults...
-
5: Training Program with Variable Benefits A training program costs $30,000 to implement. It's expected to result in a $20,000 increase in revenue the first year, $35,000 the second year, and $45,000...
-
The following diagram shows the volumetric composition of a compacted HMA specimen. Please answer the following questions: (a) What do Vb, Vba: and Vsb stand for? (b) Write the equation usually used...
-
4) Write a program to sort two random arrays keyed in by the user into descending order, and merge them into a new array containing all the elements in the two arrays in descending order. Print the...
-
Each group is required to download and use the latest financial annual report (FYE 2022) of the selected company and refer to the "Group" / "Consolidated" financial data to answer the following...
-
Basically went over usage on one of them telecommunication service , however the problem occurred due to unawareness of consumptions which was previously notified by an sms , I made the technical...
-
On October 31 Juanita Ortega, owner of Outback Guide Service, received a bank statement dated October 30. Juanita found the following: 1. The checkbook has a balance of $2,551.34. 2. The bank...
-
In its Year 2 balance sheet, IBM reported the following account: .:. In the notes to its financial statements, IBM reported that it spent $2,997 million on computer softwarerelated activities....
-
Gallemore Corporation entered into a contract to sell a machine to Christiansen Corporation for $2 million. Christiansen pays for the equipment, but asks Gallemore to delay shipment under a...
-
During 2017, Xan Inc. had the following activities related to its financial operations: Payment for the early retirement of long-term bonds payable (carrying value $370,000)...$375,000 Distribution...
-
For the composite properties and environmental conditions described in Examples 3.6, 4.7, and 5.3, determine the hygrothermally degraded values of the longitudinal and transverse tensile strengths....
-
The filament-wound E-glass/epoxy pressure vessel described in Example 4.4 is to be used in a hot-wet environment with temperature \(T=100^{\circ} \mathrm{F}\) \(\left(38^{\circ} \mathrm{C} ight)\)...
-
A carbon/epoxy lamina is clamped between rigid plates in a mold (Figure 5.17), while curing at a temperature of \(125^{\circ} \mathrm{C}\). After curing, the lamina/mold assembly (still clamped...
Study smarter with the SolutionInn App