Solution :
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% |
Tamarisk, Inc. reported the following in its 2017 and 2016 income statements. 2017 2016 Net sales Cost of goods sol...
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