Y Stores Limited had the following account balances at December 31, 2021: $12,000 3,175 10,300 11,450...

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Y Stores Limited had the following account balances at December 31, 2021: $12,000 3,175 10,300 11,450 14,000 7,730 Rent expense Repairs and maintenance expense Sales discounts Prepaid expenses Cash received from debt Freight expense Income tax expense Deferred revenue Collections from customers on account Insurance expense Cost of goods sold Sales returns and allowances Sales revenue Payments to suppliers on account Office supplies expense Travel and entertainment expense Dividends, paid in cash Contributions by owners Advertising expense REQUIRED - 12.145 8.750 38,725 1,800 138,453 15,500 268,700 42,610 6,125 3,180 12,500 17,500 26,570 Create a multiple step income statement and answer the following questions. You do not have to hand in the income statement - it is rough work only. What is total net sales for this company? What is total gross profit for this company? What is total operating expenses for this company? What is net income for this company? N What is the company's gross profit ratio, also called gross profit margin ratio? Just enter the digits without decimals or punctuation. For example, if the answer is 63% it isn't just enter 63 - do not enter 63%, .63, 0.63 or any other variation. Just the digits. Y Stores Limited had the following account balances at December 31, 2021: $12,000 3,175 10,300 11,450 14,000 7,730 Rent expense Repairs and maintenance expense Sales discounts Prepaid expenses Cash received from debt Freight expense Income tax expense Deferred revenue Collections from customers on account Insurance expense Cost of goods sold Sales returns and allowances Sales revenue Payments to suppliers on account Office supplies expense Travel and entertainment expense Dividends, paid in cash Contributions by owners Advertising expense REQUIRED - 12.145 8.750 38,725 1,800 138,453 15,500 268,700 42,610 6,125 3,180 12,500 17,500 26,570 Create a multiple step income statement and answer the following questions. You do not have to hand in the income statement - it is rough work only. What is total net sales for this company? What is total gross profit for this company? What is total operating expenses for this company? What is net income for this company? N What is the company's gross profit ratio, also called gross profit margin ratio? Just enter the digits without decimals or punctuation. For example, if the answer is 63% it isn't just enter 63 - do not enter 63%, .63, 0.63 or any other variation. Just the digits.

Answer rating: 100% (QA)

Y Stores Limited Income Statement For the Year Ended December 31 2021 Sales revenue 268700 Less Sale... View the full answer