Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. required: express each income statement component

Required: Express each income statement component as a percentage of sales, and comment on the...

50.1K

Verified Solution

Question

Accounting

Required: Express each income statement component as a percentage of sales, and comment on the trends in each line from 2013 to 2014.

2014 % Sales 2013 % Sales Comments
Sales $ 1,000,000 $ 1,200,000
Cost of goods sold $ 450,000 $ 600,000
Gross margin $ 550,000 $ 600,000
Operating expenses $ 600,000 $ 450,000
Net income $ (50,000) $ 150,000

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Fermentation Test – if we sketch the fermentation tube, what are the expected results? Hydrolysis of di-...

Chemistry
Q

EXPLAIN ANS PLEASE: PYTHON 1. s = 'abc' print(s[0:] + s[-2:2] + s[:1]) 2. def mirrorOnWheels(s): prev = 0 for current...

Programming
Q

Kuantan ATV, Inc. assembles five different models of all-terrain vehicles (ATVs) from various ready-made components to...

Basic Math
Q

In which of the following transition maximum energy radiation will be emitted for He ion...

Physics
Q

Fill in the blanks in the definition below The compound proposition that is always true...

Basic Math
Q

uppose that E and F are two events and that P E and F 0...

Statistics
Q

ithout using a calculator find the missing angle below 3 tan cot 54 for 0...

Calculus
Q

Problem 11 Describe all functions f x ax bx c such that f 1 f...

Algebra
Q

explain the entry to sell treasury stock at a loss

Accounting
Q

Take the scenario presented in the Bank Loan case study. For this scenario, come up...

Accounting
Q

This is all for one question. ...

Accounting
Q

undefined Jessica owns a $1,000-par zero-coupon bond that has five years of remaining maturity....

Finance