Mercedes, Co. has the following quarterly financial information 4th Quarter 3rd Quarter 2nd Quarter 1st Quarter
Sales revenue $941,800 $951,300 $949,600 $957,400
Cost of goods sold 306,500 319,100 318,700 323,900
Operating expenses 249,700 261,100 259,300 263,400
Interest expense 4500 4,600 4,600 4600
Income tax expense 86,300 89,200 803,030 91300
Average number of 89,200 798,064 799,670 813,000
outstanding common shares
Stock price when Q4 EPS released $ 24
a. Calculate the gross profit percentage for each quarter.
b. Calculate the net profit margin for each quarter.
c. Calculate the EPS for each quarter.
d. Calculate the Price/Earnings ratio at the end of the year.

Reynolds corp. factors $400,000 of accounts receivable with mateer finance corporation on a without recourse basis on july 1, 2015. the receivables records are transferred to mateer finance, which will receive the collections. mateer finance assesses a finance charge of 1 ½ percent of the amount of accounts receivable and retains an amount equal to 4% of accounts receivable to cover sales discounts, returns, and allowances. the transaction is to be recorded as a sale.required: a. prepare the journal entry on july 1, 2015, for reynolds corp. to record the sale of receivables without recourse.b. prepare the journal entry on july 1, 2015, for mateer finance corporation to record the purchase of receivables without recourse— think through this.c. explain the difference between sale of receivables with recourse as oppose to without recourse.