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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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