Montana Company Reported the Following Operating Results for Year 1

question 128

Essay

Montana Company reported the following operating results for Year 1 and Year 2:
$\begin{array}{|l|c|c|}\hline \text { Year } 1 & \text { Amount } &\% \text { of Sales }\\\hline \text { Sales } & 800,000 \\\hline \text { Cost of goods sold } & 440,000 \\\hline \begin{array}{c}\text { Gross margin } \\\end{array} & 360,000 \\\hline \text { Operating expenses } & 225,000 \\\hline \text { Income before taxes } & 135,000 \\\hline \text { Income taxes } & 40,000 \\\hline \text { Net income } & 95,000 \\\hline\end{array}$


$\begin{array}{|l|c|c|}\hline \text { Year } 2 & \text { Amount } &\% \text { of Sales }\\\hline \text { Sales } & 960,000 \\\hline \text { Cost of goods sold } & 635,000 \\\hline \text { Gross margin } & 325,000 \\\hline \text { Operating expenses } & 275,000 \\\hline \text { Income before taxes } & 50,000 \\\hline \text { Income taxes } & 15,000 \\\hline \text { Net income } & 35,000 \\\hline\end{array}$ Required:
Express each income statement component for each year as a percentage of sales.Round your answer to one decimal place (i.e.,22.5%).

Analyze the learning and behavior patterns taught to codependent individuals.

Describe coping styles and roles within codependent relationships.

Comprehend the prevalence and conceptual utilization of codependency in professional settings.

Recognize the consequences of poor boundaries and over-involvement in relationships termed as enmeshment.

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Definitions:

Bid-ask Spread

The difference between the highest price a buyer is willing to pay for an asset and the lowest price a seller is willing to accept.

Market Maker

A participant in the financial markets who stands ready to buy and sell securities regularly at their own risk to provide liquidity and help the market function smoothly.

Widgets

Generic term for any unspecified or hypothetical device or product, often used in business or economics as a placeholder name.

Olive Oil

A liquid fat obtained from olives, commonly used in cooking, cosmetics, pharmaceuticals, and soaps.