Given below are account balances for Charlie's Company. Gross Sales $108,000 Sales Returns and Allownaces $6,000 Selling Expenses Cost of goods Sold $12,000 $58,000 $3,000 Interest Expense How much is the gross profit margin? (Enter the percentage as a decimal rounded to two decimal places.)

Given below are account balances for Charlie's Company. Gross Sales $108,000 Sales Returns and Allownaces $6,000 Selling Expenses Cost of goods Sold $12,000 $58,000 $3,000 Interest Expense How much is the gross profit margin? (Enter the percentage as a decimal rounded to two decimal places.)

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter5: The Income Statement And The Statement Of Cash Flows

Section: Chapter Questions

Problem 2MC: The following information is available for Cooke Company for the current year: The gross margin is...

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General accounting question

Given below are account balances for Charlie's Company.
Gross Sales
$108,000
Sales Returns and Allownaces $6,000
Selling Expenses
Cost of goods Sold
$12,000
$58,000
$3,000
Interest Expense
How much is the gross profit margin? (Enter the percentage as a
decimal rounded to two decimal places.)

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