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For the years ended December 31 2019 2018 Sales Revenue 582,500 650,000 Sales return and allowance 12,000 12,500 570,000 Net Sales 638,000 Cost of Goods
For the years ended December 31 2019 2018 Sales Revenue 582,500 650,000 Sales return and allowance 12,000 12,500 570,000 Net Sales 638,000 Cost of Goods Sold 400,000 390,000 Gross Profit 170,000 248,000 Operating Expenses Salaries and Wages Expense 65,000 65,000 Other Operating Expenses 15,400 22,000 Advertising expense 17,600 20,000 Rent Expense 6,000 6,000 Depreciation Expense 6,600 3,400 Bad Debt Expense 4,650 3,000 Total Operating Expenses 115,250 119.400 Income From Operations 54750 128,600 Other Revenues and Gains Rent Revenue 6,000 6,000 Other Expenses and Losses Interest Expense 5,000 5,000 Net Income 55,750 129,600 For each $100 of sales revenue, how much of it goes to (round to two decimal places) a. Cost of goods sold b. Depreciation expense c. Salaries and wages expense d. Addition to Owner's equity
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