Question
Arigato LLC sells standard kitchen cabinets. The following information summarizes Arigato's operating activities for the year: Selling and Administrative Expenses $42,755 Purchases 85,777 Net Sales
Arigato LLC sells standard kitchen cabinets. The following information summarizes Arigato's operating activities for the year:
Selling and Administrative Expenses | $42,755 |
Purchases | 85,777 |
Net Sales Revenue | 154,501 |
Merchandise Inventory, January 1 | 12,533 |
Merchandise Inventory, December 31 | 16,277 |
Cash from Operating Activities | 11,211 |
Loss from Discontinued Operations, Net of Tax | 30,123 |
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Arigato sold 953 cabinets during the year and recorded 44 returned/defective cabinets |
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Compute Arigato's Gross Profit for the year: $ Blank 1. Fill in the blank, read surrounding text.
Compute Arigato's Operating Income for the year: $ Blank 2. Fill in the blank, read surrounding text.
Use - sign for negative amount, as needed. Use commas, as needed.
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