Question

A company has sales revenue of $ 8080000, cost of manufactured $ 3325000, ending inventory $166250...

A company has sales revenue of $ 8080000, cost of manufactured $ 3325000, ending inventory $166250 , total selling $1660800, total general administration expenses $1158000, taxes for income $ 420490. Please find out the gross profit & net profit of that company. If loss please explain why. please make recommendations and suggestions for the future long-run business.

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Answer #1
sales Revenue 8080000
cost of goods sold
cost of goods manufactured 3325000
less:Ending inventory (166250)
cost of good sold (3158750)
Gross margin 4921250
less:
selling expense (1660800)
total general administration expenses ( 1158000 )
Total selling ,General and administration expense (2818800)
Income Before tax 2102450
less:Income tax expense (420490)
net income 1681960

**The company is performing quite well since there is a net income of $ 1,681,960

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