Question
Financial information is presented here for two companies.Fill in the missing amounts. (Do not express any of the numbers in parentheses.) Young Ltd Rice Ltd
Financial information is presented here for two companies.Fill in the missing amounts.
(Do not express any of the numbers in parentheses.)
| Young Ltd | Rice Ltd | |
| Sales | $90,000 | $ |
| Sales returns | $ | $5,000 |
| Net sales | $81,000 | $95,000 |
| Cost of sales | $56,000 | $ |
| Gross profit | $ | $38,000 |
| Operating expenses | $15,000 | $ |
| Profit | $ | $15,000 |
Calculate the profit margin ratio and the gross profit ratio for each company.
(Use percentage form for the ratios and round the ratios to 1 decimal place.)
| Profit margin ratio | ||
| Young Ltd | % | |
| Rice Ltd | % |
| Gross profit ratio | ||
| Young Ltd | % | |
| Rice Ltd | % |
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Intermediate Accounting
Authors: J. David Spiceland, James Sepe, Mark Nelson, Lawrence Tomassini
5th Edition
0077282078, 9780077282073
