K Local Co. has sales of $10.1 million and cost of sales of $6.5 million. Its selling, general and administrative expenses are $550,000 and its research and development is $1.3 million. It has annual depreciation charges of $1.4 million and a tax rate of 25%. a. What is Local's gross margin? b. What is Local's operating margin? c. What is Local's net profit margin? a. What is Local's gross margin? Local's gross margin is %. (Round to one decimal place.) b. What is Local's operating margin? Local's operating margin is %. (Roune to one decimal place.) c. What is Local's net profit margin? Local's net profit margin is %. (Round to two decimal places.).

K Local Co. has sales of $10.1 million and cost of sales of $6.5 million. Its selling, general and administrative expenses are $550,000 and its research and development is $1.3 million. It has annual depreciation charges of $1.4 million and a tax rate of 25%. a. What is Local's gross margin? b. What is Local's operating margin? c. What is Local's net profit margin? a. What is Local's gross margin? Local's gross margin is %. (Round to one decimal place.) b. What is Local's operating margin? Local's operating margin is %. (Roune to one decimal place.) c. What is Local's net profit margin? Local's net profit margin is %. (Round to two decimal places.).

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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