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Exercise 5-7 Financial information for two companies are presented below. ...

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Accounting

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Exercise 5-7

Financial information for two companies are presented below.
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Fill in the missing amounts.
Sandhill Company
Carla Vista Company
Sales revenue
 $90,200 $enter a dollar amount
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Sales returns and allowances
 enter a dollar amount
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$ 3,000
Net sales
 83,800 130,000
Cost of goods sold
 56,000 enter a dollar amount
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Gross profit
 $enter a subtotal of the two previous amounts
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48,000
Operating expenses
 14,760 enter a dollar amount
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Net income
 $enter a total net income
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16,400

Calculate the profit margin and the gross profit rate for each company. (Round answers to 1 decimal place, e.g. 15.5%.)

Sandhill Company
Carla Vista Company
Profit margin
 enter percentages rounded to 1 decimal place
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% enter percentages rounded to 1 decimal place
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%
Gross profit rate
 enter percentages rounded to 1 decimal place
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% enter percentages rounded to 1 decimal place
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%

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