Question
Information from Wonder Widgets 2022 income statement is shown in the chart. Based on this information, what was Wonder Widgets gross profit rate for 2022?
Information from Wonder Widgets 2022 income statement is shown in the chart. Based on this information, what was Wonder Widgets gross profit rate for 2022? Round to the nearest hundredth.\ The illustration is a table with information from Wonder Widgets 2022 income statement. The first column lists five elements: Net Sales; Cost of goods sold; Operating expenses; Income tax expense; Net income. The second column lists the respective amounts for each of the five elements. Net sales is $120,000. Cost of goods sold is 36,400. Operating expenses is 18,900. Income tax expenses is 12,000. Net income is $52,700.
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