Financial information is presented here for two companies:

Instructions

(a) Fill in the missing amounts. Show all computations.

(b) Calculate the profit margin ratio, gross profit rate, and operating expenses to sales ratio for each company.

Transcribed Image Text:

Sales Sales returns Net sales Cost of goods sold Gross profit Operating expenses Net income Young Company Rice Company $90,000 ? ? $ 5,000 81,000 56,000 95,000 ? ? 38,000 15,000 ? ? 15,000