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Compute the gross margin percentage

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Reference no: EM132095381

Question - The Caldor Company gathered the following condensed data for the year ended December 31, 2014:

Cost of Goods Sold $500,000

Net Sales 975,000

Selling Expenses 150,000

Interest Expense 25,000

Administrative Expenses 175,000

Common Stock Dividends Paid 50,000

Income tax percentage 35%

Instructions:

(1) Prepare a multiple-step income statement for the year ended December 31, 2014.

(2) Compute the gross margin percentage and net profit margin ratio. Caldor Company's assets at the beginning of the year were $900,000, and the assets were $950,000 at the end of the year. To qualify for full credit, you must state the formula you are using, show your computations, and explain your findings.

Reference no: EM132095381

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