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

Step 1: Define Gross ProfitGross profit is the profit earned over the cost of goods sold. It is…

Answered: Fortune Brands Home & Security, Inc.…

Entrepreneurial Finance

6th Edition

ISBN:9781337635653

Author:Leach

Publisher:Leach

Chapter5: Evaluating Operating And Financial Performance

Section: Chapter Questions

Problem 7EP

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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.