Assignment C Calculating Components of Operating Statements CREATING AND USING YOUR OWN SPREADSHEET 1. Download and Open file SPREADSHEET C. 2. Set up formulas in the appropriate cells to calculate the dollar value of gross margin and profit/loss. 3. Now set up formulas in the appropriate cells to calculate percentages for net sales, cost of goods sold, gross margin, operating expenses, and profit/loss. 4. Use this completed spreadsheet to make calculations for the problems that follow. Record your answers on the tables at the end of this assignment. 5. When you have completed the activity, save the file as SPREADSHEET C_COPY and then close the file. PROBLEMS Using the spreadsheet that you have prepared, enter the components of the operating statement that you have available in each problem. Then calculate the dollar value of gross margin and profit/loss. Finally, calculate the percentage value of each component of the operating statement. 1. The swimwear department has the following figures available: sales were $135,000, cost of goods sold was $120,000, and operating expenses were $11,500. 2. ABC department has the following figures available: sales were $110,000, cost of goods sold was $80,000, and operating expenses were $35,000. 3. A department had sales of $300,000. Cost of goods sold was $180,000 and operating expenses were $90,500. 4. A store has the following figures available: sales were $278,000, cost of goods sold was $190,000, and operating expenses were $78,500. 5. A convenience store had net sales of $495,000 with cost of goods sold at $250,000. Operating expenses totaled $198,568. Assignment C: Calculating Components of Operating Statements Name and Date $ (Dollars) % (Percentages) Problem 1 Net Sales Cost of Goods Sold Gross Margin Operating Expenses Profit/Loss $ (Dollars) % (Percentages) Problem 2 Net Sales Cost of Goods Sold Gross Margin Operating Expenses Profit/Loss $ (Dollars) % (Percentages) Problem 3 Net Sales Cost of Goods Sold Gross Margin Operating Expenses Profit/Loss