Answered step by step
Verified Expert Solution
Link Copied!

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 be

image text in transcribed
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) Fiscal Years Ended on Fiscal 2018 % Sales Fiscal 2017 % Sales Fiscal 2016 % Sales $ $ 100.00 % $ 100,00 % 48,239 31,744 16,495 100.00 % 65.81 34.19 48,284 31,562 16,722 46,938 30,741 100.00 16,197 100.00 9,743 Net sales Cost of sales Gross margin Expenses Selling, general, and administrative Depreciation Interest-net Total expenses Pro-tax eamings Income tax provision Net earings 1.170 157 11,084 1,556 291 12,931 3,564 1,320 2.244 85.72 12.03 2251 100.00 (65.81) 34.19 (100.00) % 10,516 1,369 207 12,092 4,630 1,714 2,916 0.00 0.00 100.00 100.00 11,070 5,127 1.912 3.215 $ $ 100.00% $ 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_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

Frank Woods Business Accounting Volume 2

Authors: Frank Wood, Alan Sangster

14th Edition

1292209178, 9781292209173

More Books

Students also viewed these Accounting questions