Compute the missing amounts. King Company Queen Company
Sales Revenue 56000 ?
Sales Returns and Allowances ? 5000
Net Sales 50000 ?
COGS 33000 80000
Gross Profit ? 32000
Operating Expenses 12000 ?
Net Income ? 14000

Required:
Calculate the profit margin and the gross profit rate for each company. (Round answers to 2 decimal places, e. g. 15.25.)

a. King Company;
b. Profit Margin %
c. Gross Profit Rate %
d. Queen Company;
e. Profit Margin %
f. Gross Profit Rate %

                                             King Company   Queen Company

Sales Revenue                        $56,000                $117,000

                                                                            (112000+5000)

Sales Returns & Allowance    $6,000                    $5,000

                                             (56000-50000)

Net Sales                                $50,000                 $112,000

COGS                                      $33,000                  $80,000

Gross Profit                             $17,000                  $32,000

                                           (50000-33000)

Operating Expenses               $12,000                  $18,000

Net Income                              $5,000                   $14,000

Profit Margin %  = [Net Income / Net Sales]

King Company = 5,000/ 50,000* 100 = 10.00%

Queen Company = 14,000 / 112,000 * 100 = 12.50%

Gross Profit Rate % = [Gross Profit / Net Sales]

King Company = 17,000 / 60,000 = 34.00%

Queen Company = 32,000 / 112,000 = 28.57%

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answer; blank(1); /// whitelisting; blank(2); // blacklisting;