Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Chabelita Corporation provided you with the following data: Year 2019 Year 2020 Net sales 2,500,000 ? Cost of sales ? (1,500,000) Gross profit ? ?
Chabelita Corporation provided you with the following data:
Year 2019 | Year 2020 | |
Net sales | 2,500,000 | ? |
Cost of sales | ? | (1,500,000) |
Gross profit | ? | ? |
Operating expenses | (200,000) | (300,000) |
EBIT | 800,000 | 1,200,000 |
Interest expense | (200,000) | (300,000) |
EBT | 600,000 | 900,000 |
Income tax expense | (180,000) | (270,000) |
Net profit | 420,000 | ? |
Current assets | ? | 3,500,000 |
Noncurrent assets | 5,000,000 | ? |
Total assets | 8,000,000 | ? |
Current liabilities | 2,000,000 | ? |
Noncurrent liabilities | ? | ? |
Total liabilities | ? | ? |
Equity | ? | 4,000,000 |
Ratios | ||
Current ratio | 1.5000 | 3.5000 |
Total asset turnover | 0.3125 | 0.3750 |
Return on equity | 0.1050 | 0.1575 |
Common-size Analysis | ||
Gross profit | 40.00% | 50.00% |
Noncurrent liabilities | 25.00% | 37.50% |
Equity | 50.00% | 50.00% |
Trend analysis | ||
Sales | 100.00% | 120.00% |
Net profit | 100.00% | 150.00% |
Noncurrent assets | 100.00% | 90.00% |
Current liabilities | 100.00% | 50.00% |
Based on the given compute for the: Gross profit 2020
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