Calculate the missing amounts. (Loss amounts should be indicated with a minus sign and input all other amounts as positive values. Do not round intermediate calculations. Round "Gross profit ratio" to 2 decimal places.) Company A Company B 2023 2022 2023 2022 Sales 251,000 $ 175,000 $ 42,500 Sales discounts 2,510 1,100 450 Sales returns and allowances 15,500 5,000 Net sales 157,750 39,500 Cost of goods sold 151,100 56,500 Gross profit from sales 50,500 47,900 18,500 Selling expenses 17,420 18,500 24,500 Administrative expenses 25,100 29,200 8,500 Total operating expenses 45,000 13,900 1,500 Profit (loss) Gross profit ratio % % %

Calculate the missing amounts. (Loss amounts should be indicated with a minus sign and input all other amounts as positive values. Do not round intermediate calculations. Round "Gross profit ratio" to 2 decimal places.) Company A Company B 2023 2022 2023 2022 Sales 251,000 $ 175,000 $ 42,500 Sales discounts 2,510 1,100 450 Sales returns and allowances 15,500 5,000 Net sales 157,750 39,500 Cost of goods sold 151,100 56,500 Gross profit from sales 50,500 47,900 18,500 Selling expenses 17,420 18,500 24,500 Administrative expenses 25,100 29,200 8,500 Total operating expenses 45,000 13,900 1,500 Profit (loss) Gross profit ratio % % %

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter6: Merchandising Transactions

Section: Chapter Questions

Problem 19Q: The following is select account information for Sunrise Motors. Sales: $256,400; Sales Returns and...

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