17. Tress Industries also provides the following data for 2001: Profit margin (net income) ratio 10%...
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17. Tress Industries also provides the following data for 2001: Profit margin (net income) ratio 10% Sales $100,000 Gross margin ratio 40% Operating expenses for 2001 were: a. $10,000 b. $40,000 c. $30,000 d. Not able to determine from above information. 17. Tress Industries also provides the following data for 2001: Profit margin (net income) ratio 10% Sales $100,000 Gross margin ratio 40% Operating expenses for 2001 were: a. $10,000 b. $40,000 c. $30,000 d. Not able to determine from above information.
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First calculate COGS Gross margin ratio Sales COGS Sales 100 sales 100000 given ... View the full answer
Related Book For
Financial and Managerial Accounting
ISBN: 978-1285078571
12th edition
Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac
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