Assuming that I have a gross margin of 40% of net sales revenue - how
do I calculate the mising info in the table below?
2006 2005 2004
Gross sales revenue . . . . . . . . . . . . . . . $42,000 $ (9) $25,800
Sales discounts . . . . . . . . . . . . . . . . . . 0 100 100
Sales returns . . . . . . . . . . . . . . . . . . . . 0 200 700
Net sales revenue . . . . . . . . . . . . . . 42,000 (10) (1)
Beginning inventory . . . . . . . . . . .. . . . . . . (15) 8,000 (2)
Purchases . . . . . . . . . . . . . . . . . . 24,800 (11) 15,000
Purchases discounts . . . . . . . . . . . . . . . . . 700 300 500
Freight-in . . . . . . . . . . . . . . . . . . . . . . (16) 0 500
Cost of goods available for sale . . . . . . .. . . 29,000 25,000 3)
Ending inventory . . . . . . . . . . . . . . . . . . . 3,800 (12) (4)
Cost of goods sold . . . . . . . . . . . . . . . . . . (17) (13) (5)
Gross margin . . . . . . . . . . . . . . . . . . . . . (18) 14,000 (6)
Selling expenses . . . . . . . . . . . . . . . . . . . 4,000 (14) (7)
General & admin expenses . . . . . . . . . . . . . . . (19) 3,200 3,000
Income before income taxes . . . . . . . . . . 9,000 8,000 4,000
Income taxes . . . . . . . . . . . . . . . . . . . . . 4,500 4,000 (8)
Net income . . . . . . . . . . . . . . . . . . . . . (20) 4,000 2,000 |
