Beardsley Corporation reported net sales $580,000; cost of goods sold $300,000; (SO 6) operating expenses $210,000; and

Question:

Beardsley Corporation reported net sales $580,000; cost of goods sold $300,000;

(SO 6) operating expenses $210,000; and net income $70,000. Calculate the following values and cs explain what they mean.

(a) Profit margin ratio.

(b) Gross profit rate.

Exercises 247

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