Question: Calculate the missing amounts. (Loss amounts should be indicated with a minus sign and input all other amounts as positive values. Do not round intermediate
Calculate the missing amounts. (Loss amounts should be indicated with a minus sign and input all other amounts as positive values. Do not round intermediate calculations. Round "Gross profit ratio" to 2 decimal places.) Company A Company B 2020 2019 2020 2019 Sales $ 250,000 $ 174,000 $ 42,000 Sales discounts 2,500 1,200 440 Sales returns and allowances 15,400 4,900 Net sales 156,800 39,000 Cost of goods sold 150,600 56,400 Gross profit from sales 50,400 47,800 18,200 Selling expenses 17,320 18,400 24,400 Administrative expenses 25,000 29,100 8,400 Total operating expenses 44,800 13,800 1,400 Profit (loss) Gross profit ratio 96 96 96
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