A company reported an increase in net sales from $5.2 billion in 2020 to $5.8 billion in 2021, and an increase in gross profit from $1.6 billion in 2020 to $1.9 billion in 2021. Calculate each year's profit percentage.
A company reported an increase in net sales from $5.2 billion in 2020 to $5.8 billion in 2021, and an increase in gross profit from $1.6 billion in 2020 to $1.9 billion in 2021. Calculate each year's profit percentage.
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter12: Fainancial Statement Analysis
Section: Chapter Questions
Problem 54CE
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Financial Accounting question.

Transcribed Image Text:A company reported an increase in net sales from $5.2
billion in 2020 to $5.8 billion in 2021, and an increase in
gross profit from $1.6 billion in 2020 to $1.9 billion in
2021.
Calculate each year's profit percentage.
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