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  1. business
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  3. financial statements presented below is the adjust

financial statements Presented below is the adjusted trial Balance of Karen's Pet supplies as its...

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Accounting

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financial statements Presented below is the adjusted trial Balance of Karen's Pet supplies as its fiscal year end, June 30, 2021. All account are their nemal Balance (deblt or Credit). Karen's uses the Perpetual inventory System. Accounts Payable $34850 K.Milani Capital $50770 Accounts Receivable 27,360 K. Milani Drawings 24000 Accum. depreciation, Computers 1500 long terun note redivable 14000 Accumo debueciation equipment 32000 Merchandise lucedony 55 000 Cash 9500 neste payable du, doad 47000 Computers 4500 4500 Prepaid Reut e 1500 Cost of goods sold 195000 Reut expense 14000 Debreciation expeuse 4000 Salaries expense 50,000 Gaupment 80,000 Salaries payable 620 Insurance Expeuse 8400 Soles discounts Interest expense 2350 Sales returns allowances looo Interest Payable 880 sales revenue 320,000 Interest revenue 700 Supplies 900 Supplies expense Instructions (a) Prepare a multi-step income statement. (6) Calculate Kareuls gross profit margin . Karen's gross profit margin for 2020 was 45%. Comment on the change. in gross profit margin from the prior year. bros

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