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The company reports the following amounts in its December 31, 20XF income statement: Sales Gain on sale of equipment income tax expense Cost of goods
The company reports the following amounts in its December 31, 20XF income statement: Sales Gain on sale of equipment income tax expense Cost of goods sold Utilities expense 5940,000 Advertising expense 13,000 Net sales 28,000 Salaries expense 495,000 Sales returns 12,000 Average shares outstanding $92,300 925,000 198,500 15,000 100,000 27. S _Determine gross profit 28. S _Determine operating expenses: 29. S Determine Income before income taxes (IBT): 30. S Determine net income: 31. Calculate gross profit ratio (one decimal place) 32. Calculate the profit margin (two decimal places) 33. $ Calculate Earnings per Share (rounded to two decimal places) 34. S Lif ending inventory consisted of $36,000 and beginning inventory was $41,000 how much inventory was purchased during the year? %
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