Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Compute the component percentages for Trixy Magics income statement below. (Enter your answers as a percentage rounded to 2 decimal place (i.e. 0.1234 should be

Compute the component percentages for Trixy Magics 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)
Fiscal Years Ended on
Fiscal 2018 % Sales Fiscal 2017 % Sales Fiscal 2016 % Sales
Net sales $48,237 100.00 % $48,285 100.00 % $46,931 100.00 %
Cost of sales 31,733 31,558 30,736
Gross margin 16,504 100.00 16,727 100.00 16,195 100.00
Expenses:
Selling, general, and administrative 11,085 10,522 9,745
Depreciation 1,553 1,379 1,177
Interestnet 299 204 162
Total expenses 12,937 0.00 12,105 0.00 11,084 0.00
Pre-tax earnings 3,567 100.00 4,622 100.00 5,111 100.00
Income tax provision 1,313 1,712 1,906
Net earnings $2,254 100.00 % $2,910 100.00 % $3,205 100.00 %

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

Step: 3

blur-text-image

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

Accounting And Auditing Research Tools And Strategies

Authors: Thomas R. Weirich, Thomas C. Pearson, Natalie Tatiana Churyk

10th Edition

1119698138, 9781119698135

More Books

Students also viewed these Accounting questions

Question

find all matrices A (a) A = 13 (b) A + A = 213

Answered: 1 week ago