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A technology company reported net sales of $6.2 billion in 2019 and $6.8 billion in 2020. The gross profit for 2019 was $2.4 billion, and for 2020, it was $2.9 billion. What is the gross profit percentage for each year? A) 37.50% (2019), 42.65% (2020) B) 38.71% (2019), 41.80% (2020) C) 39.34% (2019), 42.65% (2020) D) 36.20% (2019), 40.98% (2020)

A technology company reported net sales of $6.2 billion in 2019 and $6.8 billion in 2020. The gross profit for 2019 was $2.4 billion, and for 2020, it was $2.9 billion. What is the gross profit percentage for each year? A) 37.50% (2019), 42.65% (2020) B) 38.71% (2019), 41.80% (2020) C) 39.34% (2019), 42.65% (2020) D) 36.20% (2019), 40.98% (2020)

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 technology company reported net sales of $6.2 billion in 2019 and $6.8 billion in 2020. The gross profit for 2019 was $2.4 billion, and for 2020, it was $2.9 billion. What is the gross profit percentage for each year? A) 37.50% (2019), 42.65% (2020) B) 38.71% (2019), 41.80% (2020) C) 39.34% (2019), 42.65% (2020) D) 36.20% (2019), 40.98% (2020)
Transcribed Image Text:A technology company reported net sales of $6.2 billion in 2019 and $6.8 billion in 2020. The gross profit for 2019 was $2.4 billion, and for 2020, it was $2.9 billion. What is the gross profit percentage for each year? A) 37.50% (2019), 42.65% (2020) B) 38.71% (2019), 41.80% (2020) C) 39.34% (2019), 42.65% (2020) D) 36.20% (2019), 40.98% (2020)
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