{[ promptMessage ]}

Bookmark it

{[ promptMessage ]}

15-3_9e - 59.0 Selling expenses $525,000 38.0...

Info icon This preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
Exercise 15-3 Name: Section: Enter the appropriate amounts in the shaded cells below. A red asterisk (*) will appear to the right of an incorrect amount in the outlined cells. a. JARIBO COMMUNICATIONS COMPANY Common-Size Income Statement For the Year Ended December 31, 20-- Amount Percent Sales $1,265,000 101.0% Sales returns and allowances 15,000 1.0% Net sales $1,250,000 100.0% Cost of goods sold 450,000 41.0% Gross profit $800,000
Image of page 1
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: 59.0% Selling expenses $525,000 38.0% Administrative expenses 143,750 10.5% Total operating expenses $668,750 48.5% Operating income $131,250 10.5% Other income 22,500 1.2% $153,750 11.7% Other expense 18,750 1.7% Income before income tax $135,000 10.0% Income tax expense 50,000 4.0% Net income $85,000 6.0% b. Jaribo Communications Company Communi- cations Industry Average...
View Full Document

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern