Question - Chapter

Stockholders of Poppa Rollo's Pizza have prospered during the company's second year of operation. In order to help with decisions about whether to open another pizzeria, Poppa Rollo's Pizza has prepared the current income statement of the business. Jan Lorange, the controller, read in an industry trade journal that a successful two-year-old pizzeria meets the following criteria:

a-Gross profit percentage is at least 60%.

b-Net income is at least $90,000.

c-Are they meeting these criteria