Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

In Fiscal year 2 0 1 8 , Firm A had a revenue of 1 3 . 4 9 M , gross profit of 6

In Fiscal year 2018, Firm A had a revenue of 13.49M, gross profit of 6.57M, and net income of 4.22M. Firm B had a gross profit margin of 53%, Revenues for 69.4M and its difference between gross profit and net profit was 38.8M. Which firm was more profitable in 2018?(Hint: Calculate the net profit margin for firm B)NOTE: If the answer is 2%, enter 0.0200 as an answer. ALWAYS USE 4 DECIMALS FOR YOUR ANSWERS

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Regulation Of Securities Markets And Transactions

Authors: Patrick S. Collins

1st Edition

0470601965, 978-0470601969

More Books

Students also viewed these Finance questions

Question

Discuss how staffi ng needs are determined.

Answered: 1 week ago