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Module4 HW_Assignment 2 Seveil Heip Save & Exk Submit Check my work Assume the average cost of computer equipment fell 17.5 percent between 2016 and 2017. Let's see whether these changes are reflected in the income statement of Computer Tycoon Inc. for the year ended December 31, 2017 2017 2016 10 points Sales Revenues $99,100 $117,488 Cost of Goods Sold 61,100 70,493 Gross Profit 38,000 46,995 Selling, General, and Administrative Expenses 32,300 32,300 Interest Expense 570 448 Income Before Income Tax Expense 5,130 14,247 Income Tax Expense 2,800 4,545 Net Income $ 2,330 $ 9,702 Required: 1-a. Compute the gross profit percentage for each year. (Round your answers to 1 decimal place.) 2017 2015 Gross profit 38.3 40.0% < Prev 2 of 4 Next >

          Module4 HW_Assignment
2
Seveil
Heip
Save & Exk
Submit
Check my work
Assume the average cost of computer equipment fell 17.5 percent between 2016 and 2017. Let's see whether these changes are
reflected in the income statement of Computer Tycoon Inc. for the year ended December 31, 2017
2017
2016
10
points
Sales Revenues
$99,100
$117,488
Cost of Goods Sold
61,100
70,493
Gross Profit
38,000
46,995
Selling, General, and Administrative Expenses
32,300
32,300
Interest Expense
570
448
Income Before Income Tax Expense
5,130
14,247
Income Tax Expense
2,800
4,545
Net Income
$ 2,330
$ 9,702
Required:
1-a. Compute the gross profit percentage for each year. (Round your answers to 1 decimal place.)
2017
2015
Gross profit
38.3
40.0%
< Prev
2 of 4
Next >

Module4 HWAssignment
2
Seveil
Heip
Save Exk
Submit
Check my work
Assume the average cost of computer equipment fell 17.5 percent between 2016 and 2017. Let's see whether these changes are
reflected in the income statement of Computer Tycoon Inc. for the year ended December 31, 2017
2017
2016
10
points
Sales Revenues
99,100117,488
Cost of Goods Sold
61,100
70,493
Gross Profit
38,000
46,995
Selling, General, and Administrative Expenses
32,300
32,300
Interest Expense
570
448
Income Before Income Tax Expense
5,130
14,247
Income Tax Expense
2,800
4,545
Net Income
2,330 9,702
Required:
1-a. Compute the gross profit percentage for each year. (Round your answers to 1 decimal place.)
2017
2015
Gross profit
38.3
40.0%
< Prev
2 of 4
Next >

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