Sunland Company reported net sales of $243,000, cost of goods sold of $145,800, operating expenses of...
Sunland Company reported net sales of $243,000, cost of goods
sold of $145,800, operating expenses of $54,400, net income of
$38,880, beginning total assets of $453,300, and ending total
assets of $612,700.
Calculate profit margin and gross profit rate. (Round
answers to 1 decimal place, e.g. 10.2%.)
|
Profit margin |
enter percentages rounded to 1 decimal place % | |
|---|---|---|
|
Gross profit rate |
enter percentages rounded to 1 decimal place % |
Homework Answers
Requirement
| Profit Margin | 16% | [($38880 net income / $ 243000 net sales) x 100] = Profit margin |
| Gross profit rate | 40% | [($243000 net sales - $ 145800 cost of goods sold) / $ 243000 net sales] |
>Profit margin = (Net Income / Net sales) x 100
>Gross Profit = (Gross Profit / Net Sales) x 100 = [(Net sales - Cost of Goods Sold) / Net Sales] x 100
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Sunland Company reported net sales of $243,000, cost of goods
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