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Presented below is financial information for two different

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Presented below is financial information for two different companies. Instructions (a) Determine the missing amounts. (Enter all amounts as positive and subtract where necessary.) Nam Company Mayo Company Sales $90,000 $ Sales returns 5,000 Net sales 84,000 100,000 Cost of goods sold 56,000 Gross profit 41,500 Operating expense 15,000 Net income 15,000 (b) Determine the gross profit rates. (Round answers to one decimal place, e.g. 10.5.) Nam Company % Mayo Company %

Reference no: EM13607180

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