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(3 of 42) Excerpts from Dowling Company's financial statements are presented below. 2020 2019 Accounts receivable (net) 20 16 Sales revenues 115 100 Cost of
(3 of 42)
Excerpts from Dowling Company's financial statements are presented below.
2020 | 2019 | |
Accounts receivable (net) | 20 | 16 |
Sales revenues | 115 | 100 |
Cost of goods sold | 60 | 55 |
Net income | 20 | 17 |
Dowling's 2020 gross profit percentage is:
47.8%.
48.5%.
48.0%.
46.5%.
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