Homework Answers
Gross profit rate = Gross Profit/Sales
Profit Margin = Net income/Sales
| 2017 | 2016 | |
|---|---|---|
| Gross profit rate |
(210,000-123,900)/210,000 = 41% |
(140,000-82,600)/140,000 = 41% |
| Profit Margin |
(13860/210,000) = 6.6% |
(25760/140,000) = 18.4% |
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