(Calculation of ratios, LO 1, 5) Consider the following alphabetical list of income statement accounts for Sussex Ltd (Sussex) for the year ended September 30, 2013 Required a Prepare an income statement for Sussex for the year ended September 30, 2013 b What is net income for the year c What is Su...

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(Calculation of ratios, LO 1, 5) Consider the following alphabetical list of income statement accounts for Sussex...

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(Calculation of ratios, LO 1, 5) Consider the following alphabetical list of income statement accounts for Sussex Ltd. (Sussex) for the year ended September 30, 2013:

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Required:

a. Prepare an income statement for Sussex for the year ended September 30, 2013.

b. What is net income for the year?

c. What is Sussex’ gross margin for 2013?

d. What is Sussex’ gross margin percentage for 2013?

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Financial Accounting A Critical Approach

ISBN: 9780070967601

3rd Edition

Authors: John Friedlan

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Question Posted: Jun 12, 2024 10:08 AM

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(Calculation of ratios, LO 1, 5) Consider the following alphabetical list of income statement accounts for Sussex...

Question:

Cost of sales $34,000 Depreciation expense 22,500 General and administrative expense 139,000 Income tax expense 41,000 Interest expense 27,000 Marketing and promotion expense 15,000 Research expense 50,000 Revenue 495,000 Salaries and wage expense 97,500 Selling expense 35,000

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Financial Accounting A Critical Approach

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