This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: The income statement for Otto Construction Company appears below:Net sales (all credit ... (Read 36 times)

yulisa3298

  • Full Member
  • ***
  • Posts: 146
on: Feb 5, 2023
The income statement for Otto Construction Company appears below:

Net sales (all credit sales)$180,000
Cost of goods sold 100,000
Gross margin80,000
Operating expenses30,000
Interest expense   12,000
Income before taxes38,000
Income tax     9,500
Net income$  28,500

Average total assets total $240,000. Otto's income tax rate is 25%. What is the gross margin percentage?
◦ 12.5%
◦ 44.4%
◦ 35.6%
◦ 15.8%
Managerial Accounting ¦ Davis ¦ 4th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by yulisa3298 on Feb 5, 2023

char00char

  • Full Member
  • ***
  • Posts: 173
Reply #1 on: Feb 5, 2023
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 29% of students answer this correctly


yulisa3298

  • Member
  • Posts: 146
Reply 2 on: Feb 5, 2023
Excellent

momolu

  • Member
  • Posts: 320
Reply 3 on: Yesterday
Gracias!

« previous next »
 

Did you know?

Walt Disney helped combat malaria by making an animated film in 1943 called The Winged Scourge. This short film starred the seven dwarfs and taught children that mosquitos transmit malaria, which is a very bad disease. It advocated the killing of mosquitos to stop the disease.

Did you know?

Intradermal injections are somewhat difficult to correctly administer because the skin layers are so thin that it is easy to accidentally punch through to the deeper subcutaneous layer.

Did you know?

The top five reasons that children stay home from school are as follows: colds, stomach flu (gastroenteritis), ear infection (otitis media), pink eye (conjunctivitis), and sore throat.

Did you know?

As many as 28% of hospitalized patients requiring mechanical ventilators to help them breathe (for more than 48 hours) will develop ventilator-associated pneumonia. Current therapy involves intravenous antibiotics, but new antibiotics that can be inhaled (and more directly treat the infection) are being developed.

Did you know?

A seasonal flu vaccine is the best way to reduce the chances you will get seasonal influenza and spread it to others.

Worldwide Variations in Population and Income Levels Developed countries represent only 18% of the Worldwide Variations in Population and Income Levels Developed countries represent only 18% of the
A passenger train crosses Stony Creek Bridge in the Rocky Mountains in 1878. Railroads were importan A passenger train crosses Stony Creek Bridge in the Rocky Mountains in 1878. Railroads were importan
Mark Twain supplemented his income as a writer by giving humorous lectures. Mark Twain supplemented his income as a writer by giving humorous lectures.
The More Things Change, The More They Say the Same: Dividing the Nation's Income The More Things Change, The More They Say the Same: Dividing the Nation's Income
Lone-parent household income and the degree of vulnerability Lone-parent household income and the degree of vulnerability
Some of the symbols used in pedigree construction. Some of the symbols used in pedigree construction.
Video: Atrial natriuretic peptide (vasodilation) & Aldosterone

For a complete list of videos, visit our video library