Question
Selected information from Coleman Inc.s statement of income for three years is indicated below: 2022 2021 2020 Sales $225,800 $220,900 $219,696 Cost of goods sold
Selected information from Coleman Inc.s statement of income for three years is indicated below:
| 2022 | 2021 | 2020 | |
| Sales | $225,800 | $220,900 | $219,696 |
| Cost of goods sold | 126,765 | 125,489 | 123,775 |
| Income from operations | 1,200 | (7,495) | 92 |
| Net income | 1,050 | (7,750) | 840 |
Instructions
(a) Calculate the gross profit margin for each year and comment on any trend in the percentages.
(b) Calculate the profit margin for each year and comment on any trend in the percentages.
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Accounting What the Numbers Mean
Authors: David H. Marshall, Wayne W. McManus, Daniel F. Viele
10th edition
9780077515904, 007802529X, 77515900, 978-0078025297
