Fortune Brands Home & Security, Inc. sells Master Lock padlocks. It reported an increase in net sales from $4.5 billion in 2011 to $4.8 billion in 2012 and an increase in gross profit from $1.3 billion in 2011 to $1.5 billion in 2012. Calculate each year's gross profit percentage.

Entrepreneurial Finance
6th Edition
ISBN:9781337635653
Author:Leach
Publisher:Leach
Chapter5: Evaluating Operating And Financial Performance
Section: Chapter Questions
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Solve this question financial accounting

Fortune Brands Home & Security, Inc. sells Master Lock
padlocks. It reported an increase in net sales from $4.5 billion
in 2011 to $4.8 billion in 2012 and an increase in gross profit
from $1.3 billion in 2011 to $1.5 billion in 2012.
Calculate each year's gross profit percentage.
Transcribed Image Text:Fortune Brands Home & Security, Inc. sells Master Lock padlocks. It reported an increase in net sales from $4.5 billion in 2011 to $4.8 billion in 2012 and an increase in gross profit from $1.3 billion in 2011 to $1.5 billion in 2012. Calculate each year's gross profit percentage.
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