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ACCT - Navarro Corporation

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Question;Operating data for Navarro Corporation are presented below.20152014Net sales $750,000 $600,000Cost of goods sold 465,000 390,000Selling expenses 105,000 66,000Administrative expenses 60,000 54,000Income tax expense 36,000 27,000Net income 84,000 63,000NAVARRO CORPORATIONCondensed Income StatementsFor the Years Ended December 3120152014AmountPercentAmountPercentNet sales$750,000%$600,000%Cost of goods sold465,000%390,000%Gross profit285,000%210,000%Selling expenses105,000%66,000%Administrative expenses60,000%54,000%Total operating expenses165,000%120,000%Income before income taxes120,000%90,000%Income taxes expense36,000%27,000%Net income$84,000%$63,000%

 

Paper#43823 | Written in 18-Jul-2015

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