Financial information is presented here for two companies. Instructions (a) Fill in the missing amounts. Show all

Question:

Financial information is presented here for two companies.

Instructions
(a) Fill in the missing amounts. Show all computations.
(b) Calculate the profit margin ratio and the gross profit rate for each company.
(c) Discuss your findings in part(b).

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Financial Accounting Tools for Business Decision Making

ISBN: 978-0470239803

5th Edition

Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso

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Question Posted: Apr 21, 2012 01:33 AM

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Financial information is presented here for two companies. Instructions (a) Fill in the missing amounts. Show all

Question:

Pratt Wig Company $90,000 Company Sales Sales returns Net sales Cost of goods sold Gross profit Operating expenses Net income 5,000 84,000 56,700 100,000 40,000 18,000 14,580

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a Iwig Company Sales 90000 Sales returns 90000 84000 6000 Net sales 84000 Net sales 84000 Cost of go...View the full answer

Financial Accounting Tools for Business Decision Making

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