Calculate the gross profit percentage for....... Evergreen Creations earned net sales revenue of $75,000,000 in 2023. The cost of goodssold was $48,750,000, and net income reached $9,500,000, the company's highest ever.Required:Calculate the gross profit percentage for Evergreen Creations.Options:A) 32%B) 35%C) 38%D) 42%

Step 1: Definition of Gross Profit PercentageThe Gross Profit Percentage measures the proportion of…

Answered: Evergreen Creations earned net sales…

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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Evergreen Creations earned net sales revenue of $75,000,000 in 2023. The cost of goods sold was $48,750,000, and net income reached $9,500,000, the company's highest ever. Required: Calculate the gross profit percentage for Evergreen Creations. Options: A) 32% B) 35% C) 38% D) 42%