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28 Nov 2020
Financial information is presented below:
Operating expenses 28,000
Sales returns and allowances 7,000
Sales discounts 3,000
Sales revenue 150,000
Cost of goods sold 91,000
What is the net income?
What are net sales?
What is the profit margin ratio?
| Financial information is presented below: |
| Operating expenses 28,000 |
| Sales returns and allowances 7,000 |
| Sales discounts 3,000 |
| Sales revenue 150,000 |
| Cost of goods sold 91,000 |
| What is the net income? |
| What are net sales? |
| What is the profit margin ratio? |
Richa AroraLv10
17 Jan 2021
Related questions
From the following details, calculate net sales revenue.
|
Sales revenue |
$460,000 |
|
Cost of goods sold |
300,000 |
|
Operating expenses |
85,000 |
|
Sales discounts |
20,000 |
|
Sales returns and allowances |
15,000 |
|
Interest revenue |
5,000 |
a. $400,000
b. $415,000
c. $425,000
d. $455,000
