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A company's financial results for 20X4 are shown below. 20X4 $'000 Sales 7,200 Less cost of sales: 2,900 Gross profit 4,300 Less expenses: Wages 1,600 Repairs and maintenance 360 Directors' salaries 150 Directors' bonuses 55 Other costs (including depreciation) 400 Net profit 1,735 What is the net profit percentage for 20X4, to one decimal place? A 59.7% B 24.0% C 24.1% D 59.8%

A company's financial results for 20X4 are shown below. 20X4 $'000 Sales 7,200 Less cost of sales: 2,900 Gross profit 4,300 Less expenses: Wages 1,600 Repairs and maintenance 360 Directors' salaries 150 Directors' bonuses 55 Other costs (including depreciation) 400 Net profit 1,735 What is the net profit percentage for 20X4, to one decimal place? A 59.7% B 24.0% C 24.1% D 59.8%

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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A company's financial results for 20X4 are shown below.

20X4

$'000

Sales 7,200

Less cost of sales: 2,900

Gross profit 4,300

Less expenses:

Wages 1,600

Repairs and maintenance 360

Directors' salaries 150

Directors' bonuses 55

Other costs (including depreciation) 400

Net profit 1,735

What is the net profit percentage for 20X4, to one decimal place?

A 59.7%

B 24.0%

C 24.1%

D 59.8%

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