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The following information is available for Fernetti Company: Cost of goods sold $2,100,000 Income tax expense 75,000 Interest expense 35,000 Net sales 3,300,000 Selling and

The following information is available for Fernetti Company:

Cost of goods sold $2,100,000
Income tax expense 75,000
Interest expense 35,000
Net sales 3,300,000
Selling and admin. expense 900,000

Compute each of the following, showing work for partial credit.

1. Gross profit

2. Income from operations

3. Income before income taxes

4. Net income

5. Gross profit percentage

6. Return on sales ratio

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