Homework Answers
| 2022 | 2021 | |
|---|---|---|
| Gross profit rate = Gross Profit/Net sales |
(142,000-85,200)/142,000 = 40% |
(112,000-67,200) /112,000 = 40% |
| Profit Margin = Net income/Net sales |
(9780/142,000) = 6.9% |
(21040/112,000) = 18.8% |
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