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ACCOUNTING Problems Questio 100 points Frankel Ltd, a Brtish merchandising company, is the exclusive distributor of a product that is gaining rapid are given below compan's revenues and expenses (in British pounds) for the last three months Frankel Ltd Comparative Income Statements For the Three Months Ended June 30 May 3.200 Sales in units 2 000 4800 Sales revenue 342 000 547 200 820,800 140000 224,000 336.000 Cost of goods sold Gross margin Selling and administrative expenses 202.000 323.200 484,800 Shipping expense Advertising expense 77 800 0,900 70,900 117,200166,400 232.000 9.800 41,900 4,200 58.600 70,900 7 9,800 1,900 41900 Insurance expense 9800 Total selling and administrative expenses Net operating income (los) 284,000 347 600 432.400 E (82.000) (24400) E 52400 FrankeLtd sinom staterment has been recast inthe functional format common inthe Stabes The Bitish currency is the pound, denoted by Required: 1. Benthy each of thw company's expences (ncluding cost of goods sold) as either variable, fxed o Cost of goods sold Shipping expense Click to (Click to selec) Click to select) Click to select Click to select) nsurance expense O Type here to search