Use the following financial statement information available for Jones Corporation 2012 2011 Net sales $784,000
Question:
Use the following financial statement information available for Jones Corporation
2012 2011
Net sales $784,000 $697,000
Cost of goods sold 406,000 377,000
Net income 112,000 80,000
Tax expense 48,000 29,000
Interest expense 14,000 14,000
(a) The net profit margin ratio for Jones Corporation for 2012 is:
(b) The net profit margin ratio for Jones Corporation for 2011 is:
(c) The gross profit margin ratio for Jones Corporation for 2012 is:
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill