Solved

The Following Information Pertains to Chestnut,Inc What Would Be Reported Next to Interest Expense on a Revenue

Question 46

Multiple Choice

The following information pertains to Chestnut,Inc.:  Net Sales Revenue $96,460 Cost of Sales 63,458 Gross Profit 33,002 Operating and Other Expenses 25,430 Interest Expense 560 Income Tax Expense 2,622 Net Income $4,390\begin{array}{lr}\text { Net Sales Revenue } & \$ 96,460 \\\text { Cost of Sales } & 63,458 \\\text { Gross Profit } & 33,002 \\\text { Operating and Other Expenses } & 25,430 \\\text { Interest Expense } & 560 \\\text { Income Tax Expense } & 2,622 \\\text { Net Income } & \$ 4,390\end{array} What would be reported next to Interest Expense on a common sized income statement?


A) 12.7%
B) 1.7%
C) 0.6%
D) 0.9%

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents