Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

COGS SCHEDULE AND INCOME STATEMENT I need to find the blank answers shown in the input sheet. please show me how to get the answer

COGS SCHEDULE AND INCOME STATEMENT I need to find the blank answers shown in the input sheet. please show me how to get the answer so that i can plug in formula to excel the answers that are already there are correct already plugged in from the input sheet.
image text in transcribed
image text in transcribed
image text in transcribed
B 1 INPUT SECTION 2 3 Item Name 4 Company Name World Series, Inc. 5 6 Item Amount($) 7 Purchases $35,530 8 Inventory, 12/31/21 $18,420 9 Gross Profit $71,280 10 Other: Revenue/Expense/Gain/Loss(+/-) ($1,890) 11 Net Income $32,460 12 13 Item Amount(%) 14 Purchase Adjustments as a % of Net Purchases 10 15 Cost of Goods Sold as a % of Cost of Goods Available 60 16 Freight-IN as a % of Net Sales 1.5 17 Sales as a % of Sales Adjustments 450 18 Tax Rate 25 19 Preferred Stock Dividends as a % of Operating Income 20 20 21 Item Amount(shares) 22 Weighted Average Common Shares Outstanding 17,500 23 24 25 26 A3 fx COGS Schedule G H 2 D OUTPUT SECTION 1 Income Statement COGS Schedule 6 7 Inventory 1/1/21 & Archases $35,530 9 Less 10. Purchases Adjustments 11 Net Purchases 12 Add: 13 Freight-in $65,475 14 COGPurchased 15 COGAvailable 16 Less 17 Inventory, 12/31/21 18 COGS 19 20 21 22 23 Sales Less: Sales Adjustments Net sales COGS Gross Profit Operating Expenses Operating Income Other: Rev/xp/Gan/Loss Income Before Tax Tax Net Income $43,650 $27,630 $71,280 $46,050 $1.890 $18,420 $27,630 $32,460 EPS 2 Name 3 Item World Series, Inc. 4 Company Name 5 Amount ($) 6 Item 7 Purchases $35,530 $18,420 8 Inventory, 12/31/21 9 Gross Profit $71,280 - $1,890 10 Other: Revenue/Expense/Gain/Loss (+/-) 11 Net Income $32,460 12 Amount (%) 10.0 60.0 1.5 13 Item 14 Purchases Adjustments as a % of Net Purchases 15 Cost of Goods Sold as a % of Cost of Goods Available 16 Freight-IN as a % of Net Sales 17 Sales as a % of Sales Adjustments 18 Tax Rate 19 Preferred Stock Dividends as a % of Operating Income 20 450.0 25.0 20.0 21 Item Amount (shares) 22 Weighted Average Common Shares Outstanding 17,500

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Government And Not For Profit Accounting Concepts And Practices

Authors: Michael H. Granof, Saleha B. Khumawala, Thad D. Calabrese

9th Edition

1119803896, 978-1119803898

More Books

Students also viewed these Accounting questions

Question

What are the factors affecting organisation structure?

Answered: 1 week ago

Question

What are the features of Management?

Answered: 1 week ago

Question

Briefly explain the advantages of 'Management by Objectives'

Answered: 1 week ago