Question
Below are the Charlie Company account balances: Gross sales, $100,000 Sales returns and discounts, $4,000 Selling expenses, $12,000 Cost of goods sold, $58,000 Interest expense,
Below are the Charlie Company account balances:
Gross sales, $100,000
Sales returns and discounts, $4,000
Selling expenses, $12,000
Cost of goods sold, $58,000
Interest expense, $3,000
How much is the gross profit margin? (Enter your percentage as a decimal rounded to two decimal places. Example: Enter 46% as .46)
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Financial Reporting Financial Statement Analysis And Valuation A Strategic Perspective
Authors: James M. Wahlen, Stephen P. Baginski, Mark Bradshaw
9th Edition
1337614689, 1337614688, 9781337668262, 978-1337614689
