Reference no: EM132872612
Question - Z Stores Limited had the following account balances at December 31, 2021:
Rent expense $12,000
Repairs and maintenance expense 3,175
Sales discounts 10,300
Prepaid expenses 11,450
Cash received from debt 14,000
Freight expense 7,730
Income tax expense 12,145
Deferred revenue 8,750
Collections from customers on account 38,725
Insurance expense 1,800
Cost of goods sold 138,453
Sales returns and allowances 15,500
Sales revenue 268,700
Payments to suppliers on account 42,610
Office supplies expense 6,125
Travel and entertainment expense 3,180
Dividends, paid in cash 12,500
Contributions by owners 17,500
Advertising expense 26,570
Required - What is the company's gross profit ratio, also called gross profit margin ratio?
If the company uses the multiple step income statement what is total operating expenses for this company?
If the company uses the multiple step income statement what is net income?
What is total net sales for this company?
If the company uses the multiple step income statement what is total gross profit for this company?
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