Calculate the gross profit percentage and the net income percentage for the income statement of Harvey Company, Round to the nearest whole percentage.
Net Sales $1,300,000
Cost of Goods sold 750,000
Gross Profit $550,000 answer 1.) ______
Operating Expenses 312,000
Net Income 238,000 answer 2.) ______
Calculate the percentage increase or decrease over the previous year for the following unrelated items taken from the balance sheet of Rikke Company. Round tothe nearest whole precentage.
Year 2 Year 1
answer _____ 1.) Cash $158,000 $99,000
answer _____ 2.) Accounts Payable 65,000 70,000