Sunland Company Blossom Company Sales Revenue $97,400 ?? Sales returns and allow
ID: 2611634 • Letter: S
Question
Sunland Company
Blossom Company
Sales Revenue
$97,400
??
Sales returns and allowances
??
$6,000
Net sales
81,600
129,000
Cost of goods sold
54,000
??
Gross Profit
??
48,000
Operating expenses
14,660
??
Net Income
??
16,000
Financial informantion for two companies presented below: Fill in the missing amounts.
Calculate the profit margin and the gross profit rate for each company. (Round answers to 1 decimal place, e.g.15.5%)
Sunland Company
Blossom Company
Profit Margin
?? %
?? %
Gross profit rate
?? %
?? %
Sunland Company
Blossom Company
Sales Revenue
$97,400
??
Sales returns and allowances
??
$6,000
Net sales
81,600
129,000
Cost of goods sold
54,000
??
Gross Profit
??
48,000
Operating expenses
14,660
??
Net Income
??
16,000
Explanation / Answer
Workings:
Sunland Company Blossom Company Profit Margin (1) 15.86% 12.40% Gross Profit Rate (2) 33.82% 37.21% (1) Profit margin = Net Income / Net Sales (2) Gross profit rate = Gross Profit / Net SalesRelated Questions
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