He following percentages apply to Thornton Company for 2018 and 2019: 2019 2018 Sales 100.0 % 100.0 % Cost of goods sold 61.0 64.0 Gross margin 39.0 36.0 Selling and administrative expense 26.5 20.5 Interest expense 2.5 2.0 Total expenses 29.0 22.5 Income before taxes 10.0 13.5 Income tax expense 5.5 7.0 Net income 4.5 % 6.5 % Required Assuming that sales were $800,000 in 2018 and $960,000 in 2019, prepare income statements for the two years.

while setting up his new office, an attorney ordered thick, frieze carpets for the floor. however, the building inspector had him remove the expensive carpeting. the building inspector stated that according to federal regulations, the office must be wheelchair accessible as it is a public area. he further explained that since wheelchairs do not maneuver well in thick, frieze carpeting, the carpets had to be removed and be replaced with smooth-textured carpets that do not restrict wheelchair maneuverability. this scenario illustrates how a company is influenced by the component of its specific environment.

Leon and sara are arguing over when the best time is to degrease soup. leon says that it's easiest to degrease soup when it's boiling. sara says it's easiest to degrease soup when it's cold. who is correct? a. neither leon nor sara is correct. b. leon is correct. c. both leon and sara are correct. d. sara is correct. student b   incorrect which following answer correct?

Lin corporation has a single product whose selling price is $136 per unit and whose variable expense is $68 per unit. the company’s monthly fixed expense is $32,400. required: 1. calculate the unit sales needed to attain a target profit of $5,000. (do not round intermediate calculations.) 2. calculate the dollar sales needed to attain a target profit of $8,400.