E5.14
Compute missing amounts.
(LO 5) Financial information is presented below for three different companies.
	Hardy Cosmetics		Yee Grocery		Wang Wholesalers
Sales revenue	90,000				122,000
Sales returns and allowances			5,000		12,000
Net sales	86,000				110,000
Cost of goods sold	56,000				86,000
Gross profit			38,000		24,000
Operating expenses	15,000				18,000
Income from operations
Other expenses and losses	4,000		7,000
Net income			11,000		5,000
Gross Profit Rate:						(Record as a %).
Instructions
(A). Determine the missing amounts.
(B). Determine Gross Profit Rate (also know as Gross Profit Margin) for each