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

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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: 978-0470534779

6th Edition

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

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Question Posted: Sep 22, 2011 11:12 AM

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

Question:

Indig Company Perez Company Sales revenue Sales returns $90,000 $ 5,000 84,000 58,000 Net sales 100,000 Cost of goods sold Gross profit Operating expenses 40,000 14,380 Net income 17,000

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

Financial Accounting Tools for business decision making

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