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Presented below is financial information for two different companies. Sales revenue Sales discounts Sales returns Net sales Cost of goods sold Gross profit Operating
Presented below is financial information for two different companies. Sales revenue Sales discounts Sales returns Net sales Cost of goods sold Gross profit Operating expenses Josh Company $190,000 2.000 (a) 183.000 103.000 (b) SYE Company $ (e) 2.500 5.000 210.000 (f) 80.000 45.000 Income from operations (c) (g) 55.000 Other revenues (expenses) 4,000 Net income (d) (h) 49.000 Instructions (a) Determine the missing amounts above. (b) Determine the gross profit rates. (Round to one decimal place) (10 Marks) (10 Marks)
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