1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
zhannawk [14.2K]
3 years ago
7

Use the following financial statement information as of the end of each year to answer this question. 2017 2016 Inventory $54,00

0 $48,000 Current assets 81,000 106,000 Total assets 392,000 336,000 Current liabilities 27,000 36,000 Total liabilities 102,000 88,000 Total stockholders’ equity 290,000 248,000 Preferred stock 10,000 10,000 Net sales 784,000 697,000 Cost of goods sold 306,000 277,000 Net income 34,000 90,000 Tax expense 22,000 18,000 Interest expense 12,000 12,000 Dividends paid to preferred stockholders 2,000 2,000 Dividends paid to common shareholders 1,000 1,000 Compute the profit margin for 2017.
Business
1 answer:
Allisa [31]3 years ago
5 0

Answer:

Gross Margin = 60.97%

Net Profit Margin = 4.337%

Explanation:

Gross Profit Margin =  \frac{Net\: Sales \: - \: Cost \: of \: Goods \: Sold}{Net Sales}

Here as per the data provided,

Net Sales for the year 2017 = $784,000

Cost of goods sold for the year 2017 = $306,000

Gross Profit Margin = \frac{784,000 \: - \:306,000}{784,000} \times 100 = 60.97%

Net profit margin = \frac{Net\: Income}{Net Sales}\times 100 =

\frac{34,000}{784,000}\times 100 = 4.337%

Since it is not specified which margin to calculate, when we say profit margin we will calculate gross margin.

Gross Margin = 60.97%

Net Profit Margin = 4.337%

You might be interested in
The CSS/Financial aid PROFILE is a(n):
Alborosie

The CSS Profile, short for the College Scholarship Service Profile, is an online application created and maintained by the United States-based College Board that allows college students to apply for non-federal financial aid.
5 0
2 years ago
Read 2 more answers
Helppp mee please!!!give me your opinion!
k0ka [10]

Answer:

YES

Explanation:

Information systems can in fact provide solutions to a lot of organizational problems in businesses and companies.  Information Systems can help collect data, statistics, and overall organization. Let's say you are looking into starting a moving business. In order to do that you need to hire employees. An information system such as Indeed can assist you with that. If you are looking to provide invoices to your customers an information system such as Quickbooks can help you with that. There are soo many Information Systems our there that can help a business with any problem.

8 0
2 years ago
Describe about comparative cost and absolute advantages of international trade​
zzz [600]

Answer:

Here's what I know.

Explanation:

Comparative cost talks about the difference or similarities in cost between two or more prices of good or services.

The advantages of international trade are...

1. It creates harmony between countries.

2. It encourages countries to manufacture their own products.

3. It is a source or income/revenue to the producing countries.

4. It is a good employment opportunity.

5. It improves a country's standard of living.

Hope these help... ♥

4 0
2 years ago
Two traditional economies are trying to industrialize. The leaders of the first favor a command economic system. The leaders of
attashe74 [19]

Answer:

In the country that promotes free-market economy is expected to start seeing firms arriving in this country and invest in those activities where this country has a comparative advantage.

Explanation:

This would lead to an efficient allocation of productive resources taking the economy to optimum production. The technology and tools will rapidly spread, and the industrialization process will be achieved. In the other country, investment and technology implementation is lead by the government allocating resources inefficiently and delaying industrialization.

8 0
3 years ago
question 4 according to a forbes magazine study, the annual cost of cybercrime in the united states alone has reached how much?
jeka94

According to a forbes magazine study, the annual cost of cybercrime in the united states alone has reached about $100 million.

<h3>What is a cybercrime?</h3>

This refers to the use of computers or other electronic devices via information systems such as organizational networks or the Internet to facilitate illegal behaviors.

In 2021, the forbes magazine study shows that the annual cost of cybercrime in the united states alone has reached about $100 million.

Read more about cybercrime

brainly.com/question/17096364

#SPJ1

4 0
1 year ago
Other questions:
  • Which of the following variances cannot occur together during the same accounting period? Multiple Choice Unfavorable labor rate
    15·1 answer
  • If the government removes a binding price floor from a market, then the price paid by buyers will (A) increase, and the quantity
    8·1 answer
  • Diversification cannot reduce market risk. <br> a. true <br> b. false
    13·1 answer
  • Your university has decided to purchase new computers for all of the computer labs on campus. Typically, the purchasing agent ne
    6·1 answer
  • Expected direct materials purchases in Metlock Company are $204000 in the first quarter and $264000 in the second quarter. 35 pe
    14·1 answer
  • The Consumer Financial Protection Bureau was created with the oversight authority necessary to ensure that Select one: A. the pr
    12·2 answers
  • The stockholders’ equity accounts of Cyrus Corporation on January 1, 2017, were as follows. Preferred Stock (7%, $100 par noncum
    7·1 answer
  • John bought 1,000 shares of Intel stock on October 18, 2014, for $30 per share plus a $750 commission he paid to his broker. On
    5·1 answer
  • WILL GIVE BRAINLIST it wont let me add the question so theres a screenshot ASAP
    5·2 answers
  • General Contracting was hired by the city of Rockyville to put in a new road through a mountain pass for $2 million. General Con
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!