Montana Company reported the following operating results for Year 1 and Year 2:
Required:Express each income statement component for each year as a percentage of sales. Round your answer to one decimal place (i.e. 22.5%)
What will be an ideal response?
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Each of the following would affect the break-even point except a change in the:
a. Variable cost per unit. b. Total fixed costs. c. Sales price per unit. d. Number of units sold.
The balance in the office supplies account on June 1 was $6,300, supplies purchased during June were $3,100, and the supplies on hand at June 30 were $2,500. The amount to be used for the appropriate adjusting entry is
A) $3,700 B) $11,900 C) $5,700 D) $6,900
A bond with a par value of $1,000 trading at 97 ½ sells for a premium.
Answer the following statement true (T) or false (F)
Carson Inc Carson Inc had the following information available at the end of its current year: Sales $2,000,000 Net operating income 500,000 Average operating assets 1,200,000 Refer to the Carson Inc information above. What was Carson's return on investment (ROI) for the year?
A) 2.4% B) 41.7% C) 25.0% D) 166.7%