Question
The Boston Bread Company reported the following income for 2011: Sales 45,000 Cost of goods sold 15,000 Gross margin 30,000 Selling and administrative expenses 7,000
The Boston Bread Company reported the following income for 2011:
Sales 45,000
Cost of goods sold 15,000
Gross margin 30,000
Selling and administrative expenses 7,000
Operating income 23,000
Interest expense 2,000
Income before income taxes 21,000
Income taxes 7,000
Net income 14,000
What is the companys gross margin %?
What is the company's net margin %?
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Intermediate Accounting
Authors: Donald E. Kieso, Jerry J. Weygandt, And Terry D. Warfield
13th Edition
9780470374948, 470423684, 470374942, 978-0470423684
