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Financial information for two companies are presented below. Fill in the missing amounts. Sheridan Company Sales revenue Crane Company $92,000 $ 3,000 Sales returns and
Financial information for two companies are presented below. Fill in the missing amounts. Sheridan Company Sales revenue Crane Company $92,000 $ 3,000 Sales returns and allowances Net sales Cost of goods sold 86,000 109,000 55.900 Gross profit 49,050 Operating expenses 16,512 Net income 17,440 e Textbook and Media List of Accounts Calculate the profit margin and the gross profit rate for each company. (Round answers to 1 decimal place, e.g. 15.5%) Crane Company Sheridan Company Profit margin % % Gross profit rate % %
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