If Going Merry Inc. has a net income of P 200,000 and a net sales of P 5,050,000 during 2020; and a net income of P 225,000 and net sales of P 7,000,000 for the year 2021. What are the return on sales of Going Merry Inc. for the year 2020 and 2021? 2020 - 3.96%; 2021 - 3.21% 2020 - 3.21%; 2021 - 3.96% 2020 - 2.86%; 2021 - 4.46 % 2020 - 4.46%; 2020 - 2.86 %
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- If Going Merry Inc. has a net income of P 200,000 and a net sales of P 5,050,000 during 2020; and a net income of P 225,000 and net sales of P 7,000,000 for the year 2021. What are the return on sales of Going Merry Inc. for the year 2020 and 2021?Choices (Format): Year - %; Year-% A. 2020 - 3.96%; 2021 - 3.21% B. 2020 - 3.21%; 2021 - 3.96% C. 2020 - 2.86%; 2021 - 4.46 % D. 2020 - 4.46%; 2020 - 2.86 %Chupapi Inc. has a gross profit ratio of 16.67 % for the year 2020. If Chupapi Inc. has gross profit of P 1,090,000 and P 6,000,000 net sales on year 2021, What would be the gross profit margin of Chupapi Inc, during 2021? * 36.33% 18.17 % 16.57 % O 15. 76 %If Going Merry Inc. has a net income of P 200,000 and a net sales of P 5,050,000 during 2020; and a net income of P 225,000 and net sales of P 7,000,000 for the year 2021. What are the return on sales of Going Merry Inc. for the year 2020 and 2021?Choices (Format): Year - %; Year-% * 2020 - 3.96%; 2021 - 3.21% 2020 - 3.21%; 2021 - 3.96% 2020 - 2.86%; 2021 - 4.46 % 2020 - 4.46%; 2020 - 2.86 %
- Venus corp has the following income statement for the year 2020 Gross sales Sales return Sales Discount Net sales COS Salaries Depreciations expense Utilities Commissions Insurance expense Rent expense Interest expense Net income before tax Tax 25% Net income after tax Required: Compute for the time interest earned 2020 $4,750,000.00 P16,000.00 P7,000.00 $4,727,000.00 #2,299,000.00 $400,000.00 P90,000.00 P45,000.00 P50,000.00 P15,000.00 P30,000.00 $25,000.00Using data available in the case, calculate the annual growth rate from 2020 to 2021 (in percentages). All calculations should be rounded to two decimals (e.g., 12.77%). > Answer is complete but not entirely correct. 2021 2020 2020-2021 Revenue 2,057,622 1,736,432 18.50 % Cost of Goods Sold 1,259,830 921,980 36.64 % Gross Profit 797,792 814,452 (1.02) % Operating Expenses 789,795 570,245 38.50 % Operating Income 7,997 244,207 2,953.73% Net Income 14,553 191,960 (92.42) %Analyze the Gross profit ratio and give you a report on the same in 2020 and|2019? Gross profit Gross profit ratio= x100 Net sales In 2019= (25,361,421 /63,161,098) x100 =0.401 x100 =40.153% In 2020= (26,796,019/ 63,441,144) x100 =0.422 x100 =42.237%
- The following information was taken from the financial statements of Sunland Company: 2021 2020 Gross profit on sales $678,600 $760,000 Income before income taxes 205,400 225,000 Net income 260,000 225,000 Net income as a percentage of net sales 10% 9% What are the net sales for 2021 and 2020? can you help me solve?Athletic World reports the following vertical analysis percentages. 2021 2020Sales 100% 100%Cost of goods sold 48% 56%Operating expenses 35% 30%Did Athletic World’s income before tax as a percentage of sales increase, decrease, or stay the same? If net income as a percentage of sales increases, does that mean net income also increases? Explain.Total Assets for Wendy's Pumpkins on 1 January 2020 was $650,000 and on 31 December 2020 was $850,000. Profit (before tax) for 2020 was $70,000, and the interest expense of the period was $20,000. What was the 2020 Rate of Return on Total Assets for Wendy's Pumpkins? formula: Rate of Return on Total Assets = Profit before Interest and Tax / Average Total Assets Select one: а. 4% O b. 9% О с. 16% O d. 12%
- The sales and profit for two years are as below: Sales Profit 2019 60000 17000 2020 90000 32000 Calculate sales when profit is OMR 100000Based on the following data below: In 2019: Total Sales= 1.5 billion with the Motor Category representing 18% of total sales Projected 2029: Total Sales= 3.75 billion with the Motor Catgory representing 24% of total sales What is the ratio of the revenue of sale in the Motors Category in 2019 to the projected revenue of sales in Motors in 2029?A. Wally asks you to create an Income Statement for 2020 using the information below. 1. 2020 sales were 150% of last year’s sales2. Gross profit margin was 55%3. Operating profit margins were 15% 4. Interest expense fell to 7%, given a change in interest rates 5. The tax rate was 30% B. Based on the change in Income between 2020 and 2019, how would you say AndrewCo is doing?