A company reported an increase in net sales from $5 billion in 2017 to $5.3 billion in 2018, and an increase in gross profit from $1.6 billion in 2017 to $1.8 billion in 2018. Calculate each year's profit percentage.
A company reported an increase in net sales from $5 billion in 2017 to $5.3 billion in 2018, and an increase in gross profit from $1.6 billion in 2017 to $1.8 billion in 2018. Calculate each year's profit percentage.
Chapter5: Evaluating Operating And Financial Performance
Section: Chapter Questions
Problem 7EP
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Financial Accounting Question please answer
Transcribed Image Text:A company reported an increase in net sales from
$5 billion in 2017 to $5.3 billion in 2018, and an
increase in gross profit from $1.6 billion in 2017 to
$1.8 billion in 2018.
Calculate each year's profit percentage.
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