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Use the following to answer questions 23-30 PJ Corp. reported the following income statement results: Sales $900,000 Sales returns & allowances 20,000 Gross profit 382,800
Use the following to answer questions 23-30 PJ Corp. reported the following income statement results: Sales $900,000 Sales returns & allowances 20,000 Gross profit 382,800 Operating expense 183,000 Gain on sale of equipment 15,000 Net income 113,520 23. $ Calculate Net sales 24. $ Calculate Cost of Goods Sold 25. $ Calculate operating income 26. $ 27. $ 28. 29. 30. $ Calculate Income before Income tax (IBT) Calculate income tax expense %. Calculate the gross profit margin (one decimal place) %. Calculate the profit margin (one decimal place) determine IBT. Assume the company had a loss (instead of the gain) on the sale of equipment of $8,000
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