Exercise 6-13 Financial information for two companies are presented below. Fill in the missing amounts....
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Accounting
Exercise 6-13 Financial information for two companies are presented below. Fill in the missing amounts. Wildhorse Company Sandhill Company Sales revenue $87,000 $ Sales returns and allowances 4,000 Net sales 81,000 123,000 Cost of goods sold 48,600 Gross profit 61,500 Operating expenses 21,222 Net income 19,680 SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO TEXT Calculate the profit margin and the gross profit rate for each company. (Round answers to 1 decimal place, e.g. 15.5%.) Wildhorse Company Sandhill Company Profit margin % % Gross profit rate % %
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