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Southernlady
Mar 1, 2006, 02:04 PM
Gross sales $160,000
Sales returns & allowances ?
Net sales ?
COGS 68%
Gross profit ?
Gross profit margin ?

How do I figure out the sales returns & allowances?

CaptainForest
Mar 1, 2006, 08:40 PM
Do you have any other information to this problem?

Southernlady
Mar 2, 2006, 05:39 AM
Operating expenses $18,500
Income Tax expense (20%) ?
Extraordinary items $10,000
Income tax (20%) ?
Net income $30,000
EPS 3.00
Thanks!