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-   -   Accounting Homework (https://www.askmehelpdesk.com/showthread.php?t=21986)

  • Mar 1, 2006, 02:04 PM
    Southernlady
    Accounting Homework
    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?
  • Mar 1, 2006, 08:40 PM
    CaptainForest
    Do you have any other information to this problem?
  • Mar 2, 2006, 05:39 AM
    Southernlady
    Operating expenses $18,500
    Income Tax expense (20%) ?
    Extraordinary items $10,000
    Income tax (20%) ?
    Net income $30,000
    EPS 3.00
    Thanks!

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