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Presented below is financial information for two different companies.
Compute the missing amounts.
Shabbona Company
Jenkins Company
Sales revenue
95,970
(d)
Sales returns and allowances
(a)
5,420
Net sales
88,660
90,810
Cost of goods sold
58,450
(e)
Gross profit
(b)
38,090
Operating expenses
15,530
26,170
Net income
(c)
11,920
The Whitton Company uses a discount rate of 16%. The company has an opportunity to buy a machine now for $18,000 that will yield cash inflows of $10,000 per year for each of the next three years.
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