Revenues The positive change in Net Sales is indicative of an increase in revenue. In the fiscal 2020, the same 16.9% sales growth occurred. A 25% digital sales growth resulted in the consolidated sales information.
Cost of Goods sold The costs required for consecutive selling operations are represented by the cost of goods. The financial result of performing certain actions with the ultimate goal of earning specified revenue is the cost of goods sold.
According to the sales numbers for each fiscal year, cost of sale was incurred by United States Securities and Exchange Commission at various rates. The cost of goods in fiscal 2020 is 70.7%, which compares to 71.8% of 2019.
The fiscal years have seen a decrease in the sales cost, an indication of a good trend for lowering selling and production expenses.
Gross profit refers to the difference between the sales price and the actual cost of the goods. The positive impact of business activities is also evident in the gross profit. Gross profit in fiscal 2018 was 27.9%; 2019, it was 28.2% and 2020, 29.3%. A single step income statement is used as there are multiple reporting systems that depend on company activity. The income statement for each year is based on a mix of activities within the company.
The business may incur interest expenses, which is a rare expense. Interest expenses have declined over the past three years. As an example, 2018,’s population reached 830,3 millions, 2019,’s at 698 million and 2020’s at 538,2million. This indicates a decrease in company borrowing tendencies.
Income Tax Expenditure
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