Extracted text: PA10. O 6.6 The following is the adjusted trial balance data for Nino's Pizzeria as of December 31, 2019. NINO'S PIZZERIA Adjusted Trial Balance Year Ended December 31, 2019 Debit Credit $ 775,984 Cash Accounts Receivable Buildings Merchandise Inventory Accounts Payable Common Stock 45,688 200,460 135,624 $437,880 410,542 Sales 555,696 Interest Revenue 84,652 Rent Revenue 86,900 Sales Salaries Expense Office Supplies Expense Sales Discounts Interest Expense Sales Returns and Allowances 24,500 6,270 102,890 4,577 105,854 122,853 Cost of goods sold Rent Expense Depreciation Expense: Office Equipment Insurance Expense Advertising Expense Totals 20,000 10,555 2,780 17,635 $1,575,670 $1,575,670 A. Use the data provided to compute net sales for 2019. B. Compute the gross margin for 2019. C. Compute the gross profit margin ratio (rounded to nearest hundredth). D. Prepare a simple income statement for the year ended December 31, 2019. E. Prepare a multistep income statement for the year ended December 31, 2019.
Extracted text: The following select account data is taken from the records of Reese Industries for 2019. Sales Merchandise inventory Sales discounts Interest expense Sales returns and allowances Interest revenue Cost of goods sold Rent expense Depreciation expense: office equipment Insurance expense Advertising expense Accounts receivable Office supplies expense Rent revenue Sales salaries expense Accounts payable Common stock Marketing expense $640,363 582,620 58,040 3,677 90,232 10,268 224,598 15,080 3,200 2,450 12,906 100,440 1,600 23,622 30,410 135,404 59,419 31,000 A. Use the data provided to compute net sales for 2019. B. Prepare a simple income statement for the year ended December 31, 2019. C. Compute the gross margin for 2019. D. Prepare a multi-step income statement for the year ended December 31, 2019.