Question
Calculate the missing amounts. (Loss amounts should be indicated with a minus sign and input all other amounts as positive values. Do not round intermediate
Calculate the missing amounts. (Loss amounts should be indicated with a minus sign and input all other amounts as positive values. Do not round intermediate calculations. Round "Gross profit ratio" to 2 decimal places.) Sales Sales discounts Sales returns and allowances Net sales Cost of goods sold Gross profit from sales Selling expenses Administrative expenses Total operating expenses Profit (loss) Gross profit ratio $ 2023 Company A 256,000 2,560 48,840 204,600 153,600 51,000 17,920 25,600 43,520 7,480 % $ 2022 180,000 1,000 16,000 163,000 102,600 60,400 19,000 27,000 46,000 14,400 % $ 2023 Company B 112,000 1,100 5,500 105,400 57,000 48,400 25,000 29,700 54,700 (6,300) 45.92 % $ 2022 45,000 500 2,500 42,000 22,000 20,000 9,000 9,000 18,000 2,000 %
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started