1. Prepare an income statement using the following information: Gross profit m

Jun 19th, 2015
SoccerBoss
Category:
Accounting
Price: $30 USD

Question description

  1. Prepare an income statement using the following information:

  Gross profit margin  42%

  Cost of goods sold  $5,800

  Tax rate  30%

  Operating profit  $600

2.  The following information is available for Brown Theater Company.  Analyze the gross profit margin making any calculations deemed necessary.

  2012  2011  2010

  Movie ticket sales    $  500     $  450  $420

  Concession sales    800    600    500

  Total sales    $1,300       $1,050  $920

  Movie rental expense       480    400    380

  Cost of concession products    350    300    280

  Gross profit      $  470     $  350      $260

3.  Use the following information to analyze the PQ Company.  Calculate any profit measures deemed necessary in order to discuss the profitability of the company.

PQ Company Income Statements

  For the Years Ended Dec. 31, 2012 and 2011

    2012    2011

  Net sales  $174,000  $167,000

  COGS      114,000    115,000

  Gross profit  $  60,000  $  52,000

  General and administrative expenses      54,000    46,000

  Operating profit  $  6,000  $  6,000

  Interest expense    (1,000)    (1,000)

  Earnings before taxes    $  5,000  $  5,000

  Income taxes      2,000    2,000

  Net income  $  3,000  $  3,000


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