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Tamarisk, Inc. reported the following in its 2017 and 2016 income statements. 2017 2016 Net sales Cost of goods sold Operatin
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Computation of Gross profit rate and profit margin
Particulars 2017 2016
Net sales $230,000.00 $140,000.00
Cost of goods sold $135,700.00 $82,600.00
Gross Profit $94,300.00 $57,400.00
Net Income $17,710.00 $26,180.00
Gross profit rate (Gross profit/sales) 41.0% 41.0%
Profit Margin (Net Income / Sales) 7.7% 18.7%
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