NEED ANSWER ASAP PLEASE Presented below is financial inform

NEED ANSWER ASAP PLEASE !

Presented below is financial information for two different companies.

Presented below is financial information for two different companies Determine the missing amounts Summer Company Winter Company Sales revenue $95,250 Sales returns Net sales Cost of goods sold Gross profit Operating expenses Net income a) $5,890 89,450 104,300 53,010 e) 44,680 19,580 c) 15,800 Determine the gross profit rates. (Round answer to 1 decimal place, e.g. 25.2%.) Summer Company Winter Company Gross profit rate

Solution

Sales-Sales return=Net sales

Net sales-Cost of goods sold=Gross profit

Gross profit-Operating expenses=Net income

Gross profit rate=Gross profit/Net sales

	Summer Company	Winter Company
Sales revenue	95250	110190
Sales returns	5800	5890
Net sales	89450	104300
Cost of goods sold	53010	59620
Gross profit	36440	44680
Operating expenses	19580	28,880
Net income	16860	15800