Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Compute the component percentages for Trixy Magic's income statement below. (Enter your answers as a percentage rounded to 2 decimal place (i.e. 0.1234 should
Compute the component percentages for Trixy Magic's income statement below. (Enter your answers as a percentage rounded to 2 decimal place (i.e. 0.1234 should be entered as 12.34). Enter all answers as positive values.) TRIXY MAGIC, INC. Consolidated Statements of Earnings (in millions) Net sales Cost of sales Gross margin Fiscal Years Ended on Fiscal 2018 % Sales Fiscal 2017 % Sales Fiscal 2016 % Sales $ 48,247 100.00% $ 48,303 100.00% $ 46,932 100.00 % 31,737 31,574 30,743 16,510 100.00 16,729 100.00 16,189 100.00 Expenses: Selling, general, and administrative 11,076 10,527 9,754 Depreciation 1,544 1,372 1,170 Interest-net 295 214 157 Total expenses 12,915 0.00 12,113 0.00 11,081 0.00 Pre-tax earnings 3,595 100.00 4,616 100.00 5,108 100.00 Income tax provision 1,328 1,714 1,908 Net earnings 2,267 100.00 % 2,902 100.00% $ EA 3,200 100.00 %
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