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Also can you please show how to calculate operating income, net income, and income before tax. Thank you! Sales revenue (all credit) $350.000 Net Income
Also can you please show how to calculate operating income, net income, and income before tax. Thank you!
Sales revenue (all credit) $350.000 Net Income $ 50,000 Total assets (beg balance) $218,000 Accounts receivable (begin) $26,500 Total assets (end balance) $230,000 Accounts receivable (end) $28,000 Cost of goods sold (COGS) $180,000 Allowance for D/A (beg) $1,500 Sales return $ 50,000 Allowance for D/A (end) $1,800 Sales discount $ 20,000 Average number of shares O/ S7.500.5 million a Net Sales: (Revenue - Sales Return - Sales Discount) b. Gross profit: (Net Sales - COGS) c. Gross profit %: (Gross Profit/Net Sales) dNet Profit Margin %: (Net Income / Net Sales) Accounts Receivable Turnover: (Net Sales (credit) Average AR (niet of Allow D/A): d. Net Profit Margin %: (Net Income / Net Sales): e Accounts Receivable Turnover: (Net Sales (credit) / Average A/R (net of Allow D.A): f. Average number of days in A/R: (365/A/R Turnover) g. Earnings per Share: Net Income / Average Shares Outstanding h. Total Asset Turnover: Net Sales Average Total Assets Return on Assets (ROA): Net Income Average Total Assets Note: You will also need to know how to calculate operating income, income before taxes and net income Refer back to exercises in Chapters 3 and 5 Step by Step Solution
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