## Question

###### Current year Amount Current year Percent Sales Previous year Amount Previous year Percent $577,000 100% Cost...

Current year Amount Current year Percent Sales Previous year Amount Previous year Percent $577,000 100% Cost of goods sold $196,000 311,580 100 % 54% Gross profit 243,040 | 12 $265,420 $ 253,760 43.98 % Selling expenses 103,860 99,200 Administrative expenses 115,400 94,240 Total operating expenses Income tax expense 17,310 24,800 Tho sortiral anakcie indicate that the ret nf nnnde cold be narrant of cal harrantana rinte while colline enance Check My Work 2 more Check My Work uses remaining. Type here to search hp

## Answers

Previous Year Sales Cost of goods sold Gross profit Selling expenses Administrative expenses Total operating expenses Operating income Income tax expense Net income $ $ $ $ $ $ Current Year Amount Percent 577,000 100.0% $ 311,580 54.0% $ 265,420 46.0% $ 103,860 18.0% $ 115,400 20.0% $ 219,260 38.0% $ 46,160 8.0% $ 17,310 3.0% $ 28,850 5.0% $ 496,000 243,040 252,960 99,200 94,240 193,440 100.0% 49.0% 51.0% 20.0% 19.0% 39.0% 12.0% 5.0% 7.0% $ $ 24,800 34,720

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