(Answered) Cost of goods sold500000net salesnbsp975000selling

Accounting

Cost of Goods Sold	$500,000
Net Sales	975,000
Selling Expenses	150,000
Interest Expense	25,000
Administrative Expenses	175,000
Common Stock Dividends Paid	50,000
Income tax percentage	35%

1. Prepare a multiple-step income statement for the year ended December 31, 2014

2. Compute the gross margin percentage and net profit margin ratio. Caldor Company's assets at the beginning of the year were $900,000, and the assets were $950,000 at the end of the year. To qualify for full credit, you must state the formula you are using, show your computations, and explain your findings

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