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
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.) Company A Company B 2023 2022 2023 2022 Sales $ 251,000 $ 175,000 $ 42,500 Sales discounts Sales returns and allowances 2,510 1,100 450 15,500 5,000 Net sales Cost of goods sold 157,750 39,500 151,100 56,500 Gross profit from sales 50,500 47,900 18,500 Selling expenses 17,420 18,500 24,500 Administrative expenses 25,100 29,200 8,500 Total operating expenses 45,000 Profit (loss) 13,900 1,500 Gross profit ratio % % %
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Get StartedRecommended Textbook for
Income Tax Fundamentals 2013
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
31st Edition
1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516
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