1) When preparing a common size balance sheet, each item is presented as a percentage of...
1) When preparing a common size balance sheet, each item is presented as a percentage of
| a. |
net sales |
|
| b. |
total assets |
|
| c. |
total equity |
|
| d. |
net income |
2) net sales - C/G/S) / net sales equals
| a. |
net profit margin |
|
| b. |
gross income |
|
| c. |
net income |
|
| d. |
gross profit margin |
3) How is net profit margin calculated?
| a. |
net income / net sales |
|
| b. |
gross profit / net sales |
|
| c. |
net income / gross sales |
|
| d. |
gross profit / gross sales |
Homework Answers
| 1 |
| When preparing a common size balance sheet, each item is presented as a percentage of total assets |
| Option b total assets is correct |
| 2 |
| (Net sales - Cost of goods sold) / net sales equals gross profit margin |
| Gross profit = Net sales-Cost of goods sold |
| Option D gross profit margin is correct |
| 3 |
| Net profit margin calculated as net income / net sales |
| Option A is correct |
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