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 2019 2020 2019 2020 Sales $ $ 174,000 $ 42,000 250,000 2,500 Sales discounts 1,200 440 Sales returns and allowances 15,400 4,900 156,800 39,000 56,400 47,800 18,200 Net sales Cost of goods sold Gross profit from sales Selling expenses Administrative expenses Total operating expenses Profit (loss) 150,600 50,400 17,320 25,000 18,400 24,400 29,100 8,400 44,800 13,800 1,400 Gross profit ratio % % % %
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
