51.

Operating expenses	$ 35000
Sales returns and allowances	9000
Sales discounts	4000
Sales revenue	186000
Cost of goods sold	96000

The profit margin ratio would be

0.24.

0.45.

0.41.

0.23.

52.

Operating expenses	$ 49000
Sales returns and allowances	6000
Sales discounts	8000
Sales revenue	184000
Cost of goods sold	98000

The amount of net sales on the income statement would be

$170000.

$178000.

$176000.

$184000.

53.

At the beginning of the year, Wildcat Athletic had an inventory of $400000. During the year, the company purchased goods costing $1200000. If Wildcat Athletic reported ending inventory of $510000 and sales of $1520000, their cost of goods sold and gross profit rate would be

$830000 and 28%.

$1090000 and 28.29%.

$1090000 and 72%.

$690000 and 71.71%

54.

American Importers reports net income of $60000 and cost of goods sold of $525000. If the companys gross profit rate was 40%, net sales were

$1372500.

$875000.

$1312500.

$967500.