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NARA [144]
3 years ago
6

is a retail chain specializing in​ salon-quality hair-care products. During the​ year, had sales of . The company began the year

with of merchandise inventory and ended the year with of inventory. During the​ year, purchased of merchandise inventory. The​ company's selling,​ general, and administrative expenses totaled for the year. Prepare income statement for the year.
Business
1 answer:
dem82 [27]3 years ago
6 0

Answer:

.................................................Big Fuzzy Spider.................................................

.....................................Income Statement for the year.....................................

Sales............................................................................................ $39,150,000

Cost of Goods sold:

Opening Inventory ............................................$3,500,000

Add: Purchases...................................................$23,350,000

Less: Closing Inventory....................................<u> $4,445,000</u>

Less: Cost of Goods Sold ........................................................<u>.($‭22,405,000‬)</u>

Gross Profit....................................................................................$16,745,000

Less: Operating Expenses ........................................................<u>($7,225,000)</u>

Net Profit ................................................................................$9,520,000

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jok3333 [9.3K]

Answer: Your budget for sales and promo are excessive, and you reached diminishing returns on your spend.

Explanation:

You can check the options online.

The market share refers to the percentage of total sales that is generated by a company in an industry.

If the potential market share is higher than the actual market share, the reason for this will be due to the fact that the budget for sales and promo are excessive, and you reached diminishing returns on your spend.

5 0
3 years ago
Jasper makes a $31,000, 90-day, 6.5% cash loan to Clayborn Co. The amount of interest that Jasper will collect on the loan is:__
pochemuha

Answer:

the amount of interest that is collected is $503.75

Explanation:

The computation of the amount of interest that is collected is shown below:

= Cash loan × number of days ÷ total number of days × rate of interest

= $31,000 × 90 days ÷ 360 days × 6.5%

= $503.75

Hence, the amount of interest that is collected is $503.75

This is the answer but the same is not provided in the given options

We simply applied the above formula so that the correct value could come

And, the same is to be considered

4 0
2 years ago
The NYSE is an example of a(n) _______________ exchange while NASDAQ is an example of a(an) __________________ market. Organized
Lilit [14]

Considering the functions and operations of the organizations, The NYSE is an example of a(n) <u>Organized</u> exchange while NASDAQ is an example of a(an) <u>Over the Counter</u> market.

NYSE is an acronym for the <u>New York Stock Exchange.</u> It is generally considered the most significant capital market in the world, with over $30 trillion. Its stock market is deemed to be stable. It is also known as a designated market.

On the other hand, NASDAQ is an acronym for National Association of Securities Dealers Automated Quotations. However, its stock market is considered to be volatile. It is also a dealer market

Hence, in this case, it is concluded that the correct answer is option A. "<u>Organized; over-the-counter."</u>

Learn more here: brainly.com/question/21993468

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3 years ago
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3 years ago
If a 20 percent increase in the price of red bull energy drinks results in a decrease in the quantity demanded of 25 percent, th
yanalaym [24]

The correct answer is that the price elasticity of demand is elastic.

Price elasticity occurs when a change in price results in a change in demand. In this example, a 20 percent increase in the price of the drinks resulted in a 25 percent decrease in the demand for the product. Because the price increase resulted in a demand decrease the price is elastic.

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