P2 - Doug's Tools Corporation Income Statement For the...

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Doug's Tools Corporation Income Statement For the Years Ended July 31, 2012 and 2011 2012 2011 Net Sales $464,200 $388,466 Cost of Goods Sold 243,880 198,788 Gross Margin 220,320 189,678 Operating Expenses Selling Expenses 95,160 55,644 General and admin Expenses 90,840 49,286 Total operationg Expenses 186,000 104,930 Income from Operations 34,320 84,748 Other Revenues and Expenses Interest Income 1,420 750 Interest Expense 5,600 1,100 Net Income 30,140 84,398 Profit Margin 6.5% 21.7% Income decreased from the year 2011 to the year 2012. I believe this happened because of the big jump in selling expenses and administration expenses. These expense helped boost net sales but they also helped lower net income.
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Mike's Hardware Company Balance Sheet June 30, 2011 Assets Debit Credit Current Ratio: 4.17871353 Current Assets Debt to Equity Ratio: 0.50544135 Cash $32,000 Short-Term Investments 33,000 Notes Receivable 10,000 Accounts Receivable 276,000 Merchandise Inventory 145,000 Prepaid Rent
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This note was uploaded on 01/23/2012 for the course BUS 1000 taught by Professor Annerich during the Fall '10 term at Cedarville.

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P2 - Doug's Tools Corporation Income Statement For the...

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