For year ended 31, Dec, 2022, Revenues are $ 8 m, gross profit is $ 4m, operating profit is $ 3m, and net income is $2m. the gross margin isO a. 25%O b. 37.5%O c. 50%O d. 30%

The correct answer is c. 50%Explanation:Gross margin tells you the percentage of revenue a company…

Answered: For year ended 31, Dec, 2022, Revenues…

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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For year ended 31, Dec, 2022, Revenues are $ 8 m, gross profit is $ 4m, operating profit is $ 3m, and net income is $2m. the gross margin is O a. 25% O b. 37.5% O c. 50% O d. 30%