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Category > Accounting Posted 22 May 2017 My Price 5.00

M chapter 15

M chapter 15 Graded Ere ' 1 vain: ‘
' 5,00 pains Exerclse 15-1 Common-Sue Income Statement [LO15-1] A comparative income statement is given beiow for McKenzie Saies Ltd , of Toronto, McKenzie Saies, lld,
Comparaiive Income Slalemenl
Tiris Year Laei Year Sales 07 370 000 05 501 200
Cost of goods sold 4 MD 000 3 507,000
Gross margin 2 750 000 2,094,200
Seliing and adminrsrranve expenses: Seiiing expenses 1 382 000 i 074 500 Administranve expenses 705.000 609.000
Toiai expenses 2 088 000 1.683 500
Ne! operating income 672,000 4i0,700
Inieresi expense i02 000 03,000
Mei mome heiore iaxes 0 570 000 0 w 700 Members oi me company‘s bnavd oi drreoiors are surprised in see mar nei meme mreased by oniy
$252 300 when saie: increased by $1 756 600 Required: 1 Express eaon yeans income sraremenr in common-size peroenrages (Round your pereerrrage
answers in 1 decimal place (i.e.. 0.1234 should be emered as12.3).) ——= Saies ’70
Cosr oi goods soid “/0 %
Gvoss margin 00 "1.. 0 0 %
Seiiing and adminisiraiive expenses
Seiiing expenses 0.. %
Administralive expenses 0s "A,
Toiai seiiing and administrative expenses 0.0 ”/0 0.0 We
Ner opereerng meme 0 0 0., 0,0 %
Inreresi expense ”70 “/a Nei income before taxes 00 “Jr, 0 0 “A,

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SuperTutor
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Status NEW Posted 22 May 2017 09:05 AM My Price 5.00

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