Financial information is presented here for two companies. Yoste Noone Company Company Sales revenue $90,000 ? Sales

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Financial information is presented here for two companies.

Yoste Noone Company Company Sales revenue $90,000 ?

Sales returns and allowances ? $ 5,000 Net sales 84,000 100,000 Cost of goods sold 58,000 ?

Gross profit ? 40,000 Operating expenses 14,380 ?

Net income ? 17,000 Instructions

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

(b) Calculate the profi t margin and the gross profi t rate for each company.

(c) Discuss your fi ndings in part (b).

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Financial Accounting

ISBN: 9781118953907

8th Edition

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

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Question Posted: Jul 08, 2024 02:03 AM

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Financial information is presented here for two companies. Yoste Noone Company Company Sales revenue $90,000 ? Sales

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Financial Accounting

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