Question
The income statement of Jane Corporation for the years 2018 and 2019 showed the following information. 2019 2018 Sales $98,000 $73,000 Cost of Goods Sold
The income statement of Jane Corporation for the years 2018 and 2019 showed the following information.
| 2019 | 2018 | |
| Sales | $98,000 | $73,000 |
| Cost of Goods Sold | $67,000 | $51,000 |
| Gross Profit | $31,000 | $22,000 |
a) Calculate the gross profit margins for both years.
b) In which year does Jane Corporation have a better gross profit margin?
Step by Step Solution
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Solution To calculate the gross profit margin you can use the following formula Gross Pro...
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Financial Accounting
Authors: Robert Kemp, Jeffrey Waybright
5th edition
134727797, 9780134728643 , 978-0134727790
