Toys for Big Boys, Inc.'s classified balance sheet and multistep income statement as of and for the year ended January 31, 2018 follow:
Calculate the gross profit percentage and the net income percentage for Toys for Big Boys, Inc, for 2018
Start by calculating the gross profit percentage for 2018. Select the formula and then complete the calculation. (Round to the nearest one-hundredth of a percent, XXXS)
Homework Answers
| 1 | Gross Profit percentage | = | Gross Profit | / | Sales Revenue | ||
| = | 8,500.00 | / | 30,000.00 | = | 28.33% | ||
| 2 | Net Income percentage | = | Net Income | / | Sales Revenue | ||
| = | 3,900.00 | / | 30,000.00 | = | 13.00% |
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Toys for Big Boys, Inc.'s classified balance sheet and multistep income statement as of and for the year ended January 31, 2018 follow:
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