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I need help with 22-25 Use the following to answer questions 22-29 GHT Corporation reports the following amounts in its December 31, 20XD income statement:
I need help with 22-25
Use the following to answer questions 22-29 GHT Corporation reports the following amounts in its December 31, 20XD income statement: Cost of goods sold Sales discounts Salaries expense Interest expense $430,000 Net sales 15,000 Advertising expense 285,000 Utilities expense 1,000 Effective income tax rate $900,000 100,000 12,000 20% 22. $. Determine Sales 23. $ _Determine gross profit 24. $_ Determine operating expenses 25. $_ Determine Income before income taxes (IBT) 26. $ _Determine Income tax expense 27. $_ _Determine net income _ _ __% Calculate gross profit ratio (round to one decimal place). 29. __Comparing GHT's common sized income statement with its competitor. The competitor's gross margin is 55.0%, which company is doing better
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