Bramble Corp. reported the following in its 2025 and 2024 income statements.Net salesCost of goods soldOperating expensesIncome tax expenseNet incomeGross profit rate2025$154,00086,24027,72021,560$18,480(a1) Determine the company's gross profit rate and profit margin for both years. (Round answers to 1 decimal place, eg. 52.7%)Profit margin2024$124,00069,44016,12013,640$24,80020252024%

The gross profit rate is calculated as gross profit divided by the net sales.Profit margin is…

Bramble Corp. reported the following in its 2025 and 2024 income statements. Net sales Cost of goods sold Operating expenses Income tax expense Net income Gross profit rate 2025 $154,000 86,240 27,720 21,560 $18,480 Profit margin 2024 $124,000 69,440 16,120 (a1) Determine the company's gross profit rate and profit margin for both years. (Round answers to 1 decimal place, eg. 52.7%) 13,640 $24,800 2024

Bramble Corp. reported the following in its 2025 and 2024 income statements. Net sales Cost of goods sold Operating expenses Income tax expense Net income Gross profit rate 2025 $154,000 86,240 27,720 21,560 $18,480 Profit margin 2024 $124,000 69,440 16,120 (a1) Determine the company's gross profit rate and profit margin for both years. (Round answers to 1 decimal place, eg. 52.7%) 13,640 $24,800 2024

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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