Whole Foods, Inc., had Gross Sales of $582,000, Sales Returns and Allowances of $18,000, and Sales Discounts
Question:
Whole Foods, Inc., had Gross Sales of $582,000, Sales Returns and Allowances of $18,000, and Sales Discounts of $4,000 in 2016. Cost of goods sold was $224,000, and net income was $84,000 for the year. The average number of shares of common stock outstanding during the year was 8,000 shares.
Requirement
Compute Whole Foods, Inc.'s earnings per share, gross profit percentage, and net income percentage for 2016?
Common StockCommon stock is an equity component that represents the worth of stock owned by the shareholders of the company. The common stock represents the par value of the shares outstanding at a balance sheet date. Public companies can trade their stocks on...
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Net Sales Revenue Sales Revenue Sales Returns and Allowances Sales Discounts 582000 18000 4...View the full answer
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