accounts data bank accounts data bank Question Q19. Using the data below prepare a common size income statement? Save your time! Proper editing and formatting Free revision, title page, and bibliography Flexible prices and money-back guarantee ORDER NOW ($ 000) ($ 000) Sales revenue Make sure you submit a unique essay Our writers will provide you with an essay sample written from scratch: any topic, any deadline, any instructions. 100% ORIGINAL ORDER NOW 30,000 Cost of goods sold 21,000 Gross profit 9,000 operating expenses Selling expenses 3,000 General and admin. expenses 1,800 Lease expenses 200 Depreciation expenses 1,000 Total operating expenses 6,000 Operating profit 3,000 Interest 1,000 EBT 2,000 Tax (40% of EBT) 800 Net profit 1,200 Q20. Use the data given below to calculate the values for the following: sales $40,000,000 Gross Profit Margin 80% Operating Profit Margin 35% Net Profit Margin 8% Return on total assets 16% Return on common equity 20% Total asset turnover 2 Average collection period 62.2 days Required: a) Gross profit b) Cost of goods sold c) Operating profit d) Operating expenses e) Earnings available for common shareholders f) Total assets g) Total common stock equity h) Accounts receivable It is a 365 days year, assume all sales are on credit basis. Q21. Euro Designs, Inc., expects sales during 2010 to rise from the 2009 level of $3.5 million to $3.9 million. Because of a scheduled large loan payment, the interest expense in 2010 is expected to drop to $325,000. The firm plans to increase its cash dividend payments during 2010 to $320,000. The company’s year-end 2009 income statement is below. ($ 000) Sales 3,500 Cost of goods sold 1,925 Gross profit 1,575 operating expenses 420 Operating profit 1,155 Interest 400 EBT 755 Tax (40% of EBT) 302 Net profit 453 Cash Dividend 250 Addition to retained earnings 203 Use the percent-of-sales method to prepare a 2007 pro forma income statement for Euro Designs, Ltd.