Cullumber Corporation reported net sales $640,000, cost of goods sold $358,400, operating expenses $168.000, and net income $53,760. Calculate the profit margin and gros profit rate. (Round answers to 1 decimal place, e.g. 10.2%)
Cullumber Corporation reported net sales $640,000, cost of goods sold $358,400, operating expenses $168.000, and net income $53,760. Calculate the profit margin and gros profit rate. (Round answers to 1 decimal place, e.g. 10.2%)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Cullumber Corporation reported net sales $640,000, cost of goods sold $358,400, operating expenses $168,000, and net income
$53,760.
Calculate the profit margin and gross profit rate. (Round answers to 1 decimal place, eg. 10.2%)
Profit margin
Gross profit rate
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