Answered step by step
Verified Expert Solution
Question
1 Approved Answer
the last picture is what I need help clarifying on, but here is the info needed to complete it. I have the correct numbers I
the last picture is what I need help clarifying on, but here is the info needed to complete it. I have the correct numbers I know the formulas but I keep getting the same thing & its incorrect. could I have work shown?
In its income statement for the year ended December 31, 2022, Windsor, Inc. reported the following condensed data. $427,800 Loss on disposal of plant assets $ 76,820 908,040 2,033,200 Salaries and wages expenses Cost of goods sold Interest expense Interest revenue Depreciation expense 65,320 Sales revenue Income tax expense Sales discounts 23,000 59,800 147,200 285,200 Utilities expense 101,200 (a) Your Answer Correct Answer Your answer is correct Prepare a multiple-step income statement (List other revenues before other expenses.) Windsor, Inc. Income Statement For the Year Ended December 31, 2022 Windsor, Inc. Income Statement For the Year Ended December 31, 2022 les ales Revenue 2,033,200 ess Sales Discounts 147,200 it Sales $ 1,886,000 st of Goods Sold 908,040 oss Profit 977,960 >erating Expenses alaries and Wages Expense 427,800 Sepreciation Expense 285,200 Hilities Expense 101,200 tal Operating Expenses 814.200 come From Operations 163.760 her Revenues and Gains terest Revenue 59,800 her Expenses and Losses Sterest Expense 65,320 i oss on Disposal of Plant Assets 76,820 1421401 Home Before Income Taxes B1.420 ome Tax Expense 23.000 it income/(Loss) $ 58.420 Calculate the profit margin and gross profit rate. (Round answers to decimal places, eg 15%) Profit margin % Gross profitrate % Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started