Income statement information is presented here for two companies:

Instructions
(a) Calculate the missing amounts for items [1] to [10].
(b) Calculate the gross profit margin and profit margin for each company.

Transcribed Image Text:

Marchant Ltd. Dueck Ltd. $1,460,00o[6] 28,000 48,00o 11 2,130,000 657,000 1,172,0o0 Sales Sales returns and allowances Net sales Cost of goods sold Gross profit Operating expenses Income from operations Other revenues Other expenses Income before income tax Income tax expense Net income [81 31 310,o00 0 4,100 [91 [10] 5 250,900 580,000 3,600 0 [41 38,600