Asked by 123

Consider the following incomplete income statement:
Sales=$2,531,700.00
COGS=39.00% of sales
Gross Profit Margin=61.00% of sales
Selling & Administrative=$704,250.00
Depreciation & Amortization=$?????
Operating Profit Margin=12.00%
What is the gross profit for 2023?
Answered by 123
What is the operating profit for 2023?
Answered by 123
What is the cost of goods sold for 2023?
Answered by 123
What is the depreciation and amortization for 2023?
Answered by GPT-4o mini
To calculate the gross profit for 2023, we can use the provided information about sales and the gross profit margin.

1. **Sales**: $2,531,700.00
2. **Gross Profit Margin**: 61.00% of sales

To find the gross profit, we apply the gross profit margin to the sales:

\[
\text{Gross Profit} = \text{Sales} \times \text{Gross Profit Margin}
\]

\[
\text{Gross Profit} = 2,531,700.00 \times 0.61
\]

Calculating that:

\[
\text{Gross Profit} = 2,531,700.00 \times 0.61 = 1,545,757.00
\]

Thus, the gross profit for 2023 is **$1,545,757.00**.
Answered by GPT-4o mini
To calculate the operating profit for 2023, we can use the information provided regarding the sales, the operating profit margin, and the expenses.

### Given Information:
- **Sales**: $2,531,700.00
- **Operating Profit Margin**: 12.00%

### Step 1: Calculate Operating Profit
Operating profit can be calculated by multiplying the sales by the operating profit margin:

\[
\text{Operating Profit} = \text{Sales} \times \text{Operating Profit Margin}
\]

\[
\text{Operating Profit} = 2,531,700.00 \times 0.12
\]

Calculating that:

\[
\text{Operating Profit} = 2,531,700.00 \times 0.12 = 303,804.00
\]

### Conclusion
The operating profit for 2023 is **$303,804.00**.
Answered by GPT-4o mini
To calculate the Cost of Goods Sold (COGS) for 2023, we can use the provided information about sales and the percentage of COGS relative to sales.

### Given Information:
- **Sales**: $2,531,700.00
- **COGS**: 39.00% of sales

### Step 1: Calculate COGS
COGS can be calculated using the formula:

\[
\text{COGS} = \text{Sales} \times \text{COGS \%}
\]

Substituting the values:

\[
\text{COGS} = 2,531,700.00 \times 0.39
\]

Calculating that:

\[
\text{COGS} = 2,531,700.00 \times 0.39 = 986,163.00
\]

### Conclusion
The Cost of Goods Sold (COGS) for 2023 is **$986,163.00**.
Answered by GPT-4o mini
To determine the Depreciation and Amortization for 2023, we need to consider the operating profit calculated earlier, as well as the total expenses involved in arriving at the operating profit. Here’s a step-by-step approach:

### Given Information:
- **Sales**: $2,531,700.00
- **COGS**: $986,163.00 (already calculated)
- **Selling & Administrative Expenses**: $704,250.00
- **Operating Profit Margin**: 12.00%
- **Calculated Operating Profit**: $303,804.00 (already calculated)

### Step 1: Calculate Total Expenses
We know the Operating Profit can be calculated using the formula:

\[
\text{Operating Profit} = \text{Gross Profit} - \text{Total Expenses}
\]

However, since Gross Profit is not directly provided here, we can rearrange to use the following formulas:

\[
\text{Gross Profit} = \text{Sales} - \text{COGS}
\]

Then we can find Total Expenses using:

\[
\text{Total Expenses} = \text{Selling & Administrative} + \text{Depreciation & Amortization}
\]

### Step 2: Calculate Gross Profit
From our previous calculations:

\[
\text{Gross Profit} = \text{Sales} - \text{COGS}
\]
\[
\text{Gross Profit} = 2,531,700.00 - 986,163.00 = 1,545,537.00
\]

### Step 3: Calculate Total Expenses
Now we will rearrange the formula for Operating Profit:

\[
\text{Operating Profit} = \text{Gross Profit} - \text{Total Expenses}
\]
\[
\text{Total Expenses} = \text{Gross Profit} - \text{Operating Profit}
\]

Substituting our values:

\[
\text{Total Expenses} = 1,545,537.00 - 303,804.00 = 1,241,733.00
\]

### Step 4: Calculate Depreciation and Amortization
From our calculation, we know:

\[
\text{Total Expenses} = \text{Selling & Administrative} + \text{Depreciation & Amortization}
\]

Substituting known values:

\[
1,241,733.00 = 704,250.00 + \text{Depreciation & Amortization}
\]

Rearranging the equation gives us:

\[
\text{Depreciation & Amortization} = 1,241,733.00 - 704,250.00
\]
\[
\text{Depreciation & Amortization} = 537,483.00
\]

### Conclusion
The Depreciation and Amortization for 2023 is **$537,483.00**.