Compute the net sales for each year.

Compute the net sales for each year.

The following
information was taken from the financial statements of Lawson Company:

2015 2014

Gross profit on sales…………………………………………………….. $900,000 $840,000

Income before income taxes…………………………………………. 280,000 230,000

Net income…………………………………………………………………. 240,000 216,000

Net income as a percentage of net
sales………………………… 8% 9%

Instructions

(a) Compute the net sales for each year.

(b) Compute the cost of goods sold in dollars
and as a percentage of net sales for each year.

(c) Compute operating expenses in dollars and as
a percentage of net sales for each year. (Income taxes are not operating
expenses).


Price: £ 45

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