Financial information is given below Net sales Cost of goods sold Gross profit Operating expenses Administrative expenses
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Net sales Cost of goods sold Gross profit Operating expenses Administrative expenses Amortization Insurance Marketing and advertising Miscellaneous Rent Repairs and maintenance Security Supplies and expenses Telephone Travel and entertainment Utilities Vehicle expenses Wages Total operating expenses Operating income Other income Interest expense Net income (loss) 2017 $8,662,734 5,639,622 $3,023,112 $ 245,324 232,104 43,594 250,950 188,578 519,906 298,442 138,058 176,530 142,680 65,894 53,010 62,024 921,768 $3,338,862 $ (315,750) 31,884 $ (283,866) 703,256 $ (987,122) 2016 $4,316,036 3,332,702 $ 983,334 $ 99,480 88,888 70,444 147,516, 133,634 654,330 122,922 60,944 100,022 118,546 81,962 33,438 54,314 793,612 $2,560,052 $(1,576,718) $(1,576,718) 438,316 $(2.015.034) Net sales Cost of goods sold Gross profit Operating expenses Administrative expenses Amortization Insurance Marketing and advertising Miscellaneous Rent Repairs and maintenance Security Supplies and expenses Telephone Travel and entertainment Utilities Vehicle expenses Wages Total operating expenses Operating income Other income Interest expense Net income (loss) 2017 $8,662,734 5,639,622 $3,023,112 $ 245,324 232,104 43,594 250,950 188,578 519,906 298,442 138,058 176,530 142,680 65,894 53,010 62,024 921,768 $3,338,862 $ (315,750) 31,884 $ (283,866) 703,256 $ (987,122) 2016 $4,316,036 3,332,702 $ 983,334 $ 99,480 88,888 70,444 147,516, 133,634 654,330 122,922 60,944 100,022 118,546 81,962 33,438 54,314 793,612 $2,560,052 $(1,576,718) $(1,576,718) 438,316 $(2.015.034)
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Assuming a consistent growth rate in net sales we can make projections for 2018 and 2019 Lets assume ... View the full answer
Related Book For
Financial and managerial accounting
ISBN: 978-1118016114
1st edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
Posted Date:
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