Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

For Q1-Q5, all relevant data is here: http://www.small-big-data.com Save the Fish Market Sea Bass.txt file and Fish Market See Bass Transactions.txt file as txt and

image text in transcribed

image text in transcribed

image text in transcribed

image text in transcribed

For Q1-Q5, all relevant data is here:

http://www.small-big-data.com

Save the "Fish Market Sea Bass.txt file" and "Fish Market See Bass Transactions.txt file" as txt and import in excel

Thanks!!

Joseph Czerniakow is the owner of a fish market. To better understand his business Joseph asked his assistant, Rachel Hirsh, to record the weights of See Bass delivered to his business during one month. He also asked Rachel to record information about all sales transactions. Open Fish Market See Bass.txt and Fish Market See Bass Transactions.txt files. The first data set shows the weights of See Bass, in pounds, delivered to Joseph's fish market during one month. For the whole monthly delivery, the supplier charged Joseph $24,951.90. The second data set gives information about Joseph's sales: for each transaction the weight of the fish sold, in pounds, and the total amount charged in this particular transition, in dollars, are given. Joseph pays a monthly rent of $2,000 for his store and $1,000 for utilities (electricity, heating, water, sewer, garbage removal, phone, WiFi, etc.). The issuance bill is an additional $500. Joseph's monthly salary is $4000 and Rachel's is $2500. In addition, Joseph always employs several part-time sales associates for a total of 200 hours per month at an hourly wage of $12 Joseph would like to find out if his business is profitable, how much of the delivered fish are sold to customers, and how much fish are "lost on the way" and represent shrinkage To assess his profitability, Joseph ask Rachel to prepare an internal income statement for his business for one month. This income statement should include 5 rows: Sales Revenue/(Less) Cost of Goods Sold/Gross Profit/(Less) Operating Expenses/operating Income

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

The Complete Guide To Real Estate Finance For Investment Properties

Authors: Steve Berges

1st Edition

0471647128, 978-0471647126

More Books

Students also viewed these Finance questions