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I need help with 23-30 Use the following to answer questions 23 - 30 PMJ Corp. reported the following income statement results: Sales Sales returns
I need help with 23-30
Use the following to answer questions 23 - 30 PMJ Corp. reported the following income statement results: Sales Sales returns & allowances Gross profit Operating expense Gain on sale of equipment Net income $978,500 18,500 399,360 294,100 7,500 93,120 23. $ Calculate Net sales 24. $ Calculate Cost of Goods Sold 25. $. Calculate operating income 26. $ Calculate Income before Income tax (IBT) 27. $ Calculate income tax expense 28. _ _ __%. Calculate the gross profit margin (one decimal place) _%. Calculate the profit margin (one decimal place) Assume the company had a loss (instead of the gain) on the sale of equipment of $1,000; 30. $ determine IBTStep by Step Solution
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