Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

In Fiscal year 2018, Firm A had a revenue of 13.30M, gross profit of 6.00M, and net income of 4.54M. Firm B had a gross

In Fiscal year 2018, Firm A had a revenue of 13.30M, gross profit of 6.00M, and net income of 4.54M. Firm B had a gross profit margin of 53%, Revenues for 65.5M and its difference between gross profit and net profit was 34.5M. Which firm was more profitable in 2018? (Hint: Calculate the net profit margin for firm A)

NOTE: Answer in percentages. If your answer is 0.0204, You must answer 2.04

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

Step: 3

blur-text-image

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

Industrializing Financial Services With DevOps

Authors: Spyridon Maniotis

1st Edition

1804614343, 978-1804614341

More Books

Students also viewed these Finance questions

Question

Discuss the key people management challenges that Dorian faced.

Answered: 1 week ago

Question

How fast should bidder managers move into the target?

Answered: 1 week ago