2009-06-15_093442_Micronew

2009-06-15_093442_Micronew - Micro Chip Computer...

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Micro Chip Computer Corporation Consolidated Statements of Operations For the period September 26, 2007 through September 25, 2008 Sales Sales $8,334.00 Cost of Sales $5,458.00 Gross Margin $2,876.00 Operating expenses: R & D $525.00 Selling, General, and Administrative $691.00 In-process R & D --------- Restructuring costs --------- Total Operating Exp $1,216.00 Operating income $1,660.00 Total interest and other Income net $194.00 Income before provision for Income taxes $1,854.00 Provision for income Taxes (15%) $278.10 Net income $1,575.90 Answer questions 1 and 2 below based on the financial data. 1. Determine the year-to-year percentage annual growth in total net sales. 2. Based only on your answers to question #1, do you think the company will hit its sales goal of +10% annual revenue growth in 2009? Determine the target revenue figure, and explain why you do or do not feel that the company can hit this target. 1.
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This note was uploaded on 06/20/2011 for the course ACCT 101 taught by Professor Joannes during the Spring '11 term at Aarhus Universitet.

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2009-06-15_093442_Micronew - Micro Chip Computer...

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