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I need help with 22-29 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 22-29
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 $614,200 Net sales 11,000 Advertising expense 195,000 Utilities expense 1,000 Effective income tax rate $964,300 42,000 12,000 21% 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 35.0%, which company is doing betterStep by Step Solution
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