Struggling and need assistance! Computing and interpreting the gross profit percentage M6-15: Ziehart Pharmaceuticals reported Net sales of $178,000 and cost of goods sold of $58,000. Candy Electronics Corp. reported Net sales of $36,000 and Cost of Goods sold of $26,200. Calculate the gross profit percentage for both companies (rounded to one decimal place). Which company has a greater portion of its sales available to cover expenses other than the cost of goods sold? Determining the cause of increasing Gross profit: M6-17: Fortune Brands Home & Security, inc. sells Master Lock Padlocks. It reported an increase in net sales from $3.3 billion in 2011 to $3.6 billion in 2012. Based on these numbers, determine whether the change in gross profit was caused by an increase in gross profit per sale, an increase in sales volume, or a combination of the two . E6-5: Inferring Missing Amounts Based on Income Statement Relationships. Supply the missing dollar amounts for each of the following independent cases. **Attached in Image ** E6-7: Reporting Purchases and purchase Discounts Using a Perpetual Inventory System. During the months of january and Feb. Axe Corp. purchased goods from three suppliers. **Attached in Image**

Bank Statement M5-12 M5-13 SOLUTIONS! SOLUTIONS! date Checks 1-May 4-May # 2 12-May # 4 28-May # 5 30-May # 6 31-May # 8 deposits Others $10 $100 $20 $15 $55 Balance $50.00 NSF Check $50.00 $200.00 Service charge 5 $200.00 $240.00 $90.00 $70.00 $255.00 $195.00 DB A Cash (A) 1-May 3-May 200 50 29-May 30-May 31-May 200 150 305 balance B 10 70 100 20 15 25 55 Preparing a Bank Reconciliation Updates to Bank Statement Updates to Company's Books Ending Cash Balance per Ending Cash Balance per books Bank Statement $195.00 $305.00 Additions $50.00 Additions $70.00 $150.00 $25.00 $5.00 Deductions $70.00 Deductions $25.00 Accounting for Unrecorded Items on Bank Reconciliation $50.00 $150.00 $5.00 Up to date ending cash balance to date ending cash balance Up $305.00 $195.00 May 3 #2 May 4 #3 May 8 #4 May 11 #5 May 21 #6 May 29 #7 May 30 #8 cash book 305 CR $50.00 $5.00 $250.00 bank statement 195 $70.00 $25.00 $150.00 balance $250.00