Calculate the missing quantities.King CompanyQueen's Companysales revenue56000?Sales returns and benefits?5000net sales50000?COGS3300080000Gross profit?32000operating expenses12000?Net Income?14000Calculate the...
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Accounting
Calculate the missing quantities.
| King Company | Queen's Company | ||
| sales revenue | 56000 | ? | |
| Sales returns and benefits | ? | 5000 | |
| net sales | 50000 | ? | |
| COGS | 33000 | 80000 | |
| Gross profit | ? | 32000 | |
| operating expenses | 12000 | ? | |
| Net Income | ? | 14000 |
Calculate the profit margin and gross profit rate for each company.
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