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Sales 12.5 points Cost of goods sold 1 The Haines Corp. shows the following financial data for 20X1 and 20x2 2093 $3,260,000 2,960,000 3081
Sales 12.5 points Cost of goods sold 1 The Haines Corp. shows the following financial data for 20X1 and 20x2 2093 $3,260,000 2,960,000 3081 $3,140,000 2,200,000 Gross profit $ 860,000 400,000 Belling & administrative expense 236,000 233,000 Operating profit $ 624,000 $ 177,000 lock Interest expense 42.900 53,100 Income before taxes $ 581,100 123,900 Hin 203,385 43,365 Income after taxes $ 377,715 80,535 Prin Reference For each year, compute the following ratios and indicate how the change in each ratio will affect profitability in 20X2. (Input your answers as a percent rounded to 2 decimal places.) Cost of goods sold to sales Selling and administrative expense to sales Interest expense to sales 20X1 *** 2002 Profitability
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