FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Financial information is presented below: Operating expenses$ 44000 Sales returns and allowances14000 Sales discounts3000 Sales revenue182000 Cost of goods sold97000 The profit margin ratio would

Financial information is presented below:

Operating expenses$ 44000

Sales returns and allowances14000

Sales discounts3000

Sales revenue182000

Cost of goods sold97000

The profit margin ratio would be

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

Business Law

Business Law

Authors: Henry Cheeseman

10th Edition

0134728785, 978-0134728780

More Books

Students also viewed these Accounting questions

Question

★★★★★
Amazon.coms net sales were $74.5 billion in 2012, and they increased by 22% in 2013. What were the net sales in 2013?

Answered: 1 week ago

Question

★★★★★
Sketch Bode magnitude and phase plots for H(s) = 10/s(s2 + s + 16), s = j

Answered: 1 week ago

Question

★★★★★
A digital scale has an accuracy of two decimal places shown on its screen. Each time a person steps on the scale, we record his/her weight by rounding it to the closest integer (in kilograms). Thus,...

Answered: 1 week ago

Question

★★★★★
Two identical spheres are each attached to silk threads of length L = 0.500 m and hung from a common point (Fig. 21.44). Each sphere has mass m = 8.00 g. The radius of each sphere is very small...

Answered: 1 week ago

Question

★★★★★
The cash account of Edge Enterprises at July 1 is $500. The total of the debit entries to the Cash account amounted to $1,500 and the total of the credit entries to the Cash account amounted to...

Answered: 1 week ago

Question

★★★★★
Ned Thompson Labs performs tests on super alloys, titanium, aluminium, and most metals. Tests on metal composites that rely upon scanning electron microscope results can be subcontracted or the labs...

Answered: 1 week ago

Question

★★★★★
Below are summary cash flow statements for three roughly equal-sized companies. ($ millions) A B C Net cash flows from operating activities (312 ) (312 ) 324 Net cash used in investing activities...

Answered: 1 week ago

Question

★★★★★
You are a Chartered Certified Accountant and the newly appointed Internal Auditor of a company that is experiencing financial difficulties. As a condition for obtaining bank loans, the company has...

Answered: 1 week ago

Question

★★★★★
The balance in the prepaid rent account before adjustment at the end of the year is $15,000, which represents five months' rent paid on December 1. The adjusting entry required on December 31 is...

Answered: 1 week ago

Question

★★★★★
What are some benefits of social networking? Select all that apply. Responses can introduce you to potential romantic partners can introduce you to potential romantic partners a boss may hear about...

Answered: 1 week ago

Question

★★★★★
Fortes Inc. has provided the following data concerning one of the products in its standard cost system. Variable manufacturing overhead is applied to products on the basis of direct labor-hours....

Answered: 1 week ago

Question

★★★★★
Purpose: What do we seek to achieve with our behaviour?

Answered: 1 week ago

Question

★★★★★
An action plan is prepared.

Answered: 1 week ago

Question

★★★★★
2. In this chapter, the reader should reflect on the following concepts: personal change competence, personal achievements, personal benchmarking, personal motivation strategy, personal mastery...

Answered: 1 week ago

Previous Question Next Question