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Review the income statement below. What assumptions can be made by reviewing? Revenues Bakery-caf, net sales $56,973,913 Wholesale cupcakes $3,988,174 Total Revenue $60,962,087 Cost of
Review the income statement below. What assumptions can be made by reviewing?
| Revenues | ||
| Bakery-caf, net sales | $56,973,913 | |
| Wholesale cupcakes | $3,988,174 | |
| Total Revenue | $60,962,087 | |
| Cost of goods sold | $48,095,968 | |
| Gross Profit | $12,866,119 | |
| Gross Profit Margin | 21.20% | |
| SG&A expense | $3,922,785 | |
| Depreciation & amortization | $2,224,586 | |
| Operating Income | $6,718,748 | |
| Operating Margin | 11.00% |
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