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  3. question 14 random retailers, inc.'s income statem

QUESTION 14 Random Retailers, Inc.'s income statement for the year ended December 31, 2015, included...

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QUESTION 14 Random Retailers, Inc.'s income statement for the year ended December 31, 2015, included the following accounts: Sales... $100,000,000 Cost of goods sold. $36,000,000 Selling expenses (total). $10,000,000 General and administrative expensen $25,000,000 Income tax expenso... $5,500,000 What was the gross profit ratio for the year-ended December 31, 20X5? 1. 25.096 b.36.0% o. 64.0% d.40.0% QUESTION 15 XYZ Co.'s external auditor rendered an opinion on the financial statements which stated that in the opinion of the auditor the financial statements and related disclosures fairly presented financial Information in all material respects fairly in terms of U.S. GAAP except for the fact that an asset that should have been reported at original historical cont was reported at its higher tale market value as of the date of the preparation of the statement of financial position. This is an example of an Qualified opnion b. Disclaimer opinion Adverse opinion Unqualified unmodified) opinion

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