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Nath Company, prides itself as being the "world's leading marketer of U.S. branded non-athletic footwear." The following data (in millions) were reported for the second quarter of 2019: Net Sales Income Tax Expense Dividends Salaries and Wages Expense Cost of Goods Sold Interest Expense 2a Gross Profit 2-b Gross Profit Percentage $1,528 34 20 486 2-a. How much was the gross profit? (Enter your answer in millions.) 2-b. What was the gross profit percentage? (Round your percentage to 1 decimal place.) million 936 36

Nath Company, prides itself as being the "world's leading marketer of U.S. branded non-athletic footwear." The following data (in millions) were reported for the second quarter of 2019: Net Sales Income Tax Expense Dividends Salaries and Wages Expense Cost of Goods Sold Interest Expense 2a Gross Profit 2-b Gross Profit Percentage $1,528 34 20 486 2-a. How much was the gross profit? (Enter your answer in millions.) 2-b. What was the gross profit percentage? (Round your percentage to 1 decimal place.) million 936 36

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Nath Company, prides itself as being the "world's leading marketer of U.S. branded non-athletic footwear." The following data (in millions) were reported for the second quarter of 2019: Net Sales Income Tax Expense Dividends Salaries and Wages Expense Cost of Goods Sold Interest Expense 2-a. How much was the gross profit? (Enter your answer in millions.) 2-b. What was the gross profit percentage? (Round your percentage to 1 decimal place.) 2-a Gross Profit 2-b Gross Profit Percentage $1,528 34 20 486 936 36 million
Transcribed Image Text:Nath Company, prides itself as being the "world's leading marketer of U.S. branded non-athletic footwear." The following data (in millions) were reported for the second quarter of 2019: Net Sales Income Tax Expense Dividends Salaries and Wages Expense Cost of Goods Sold Interest Expense 2-a. How much was the gross profit? (Enter your answer in millions.) 2-b. What was the gross profit percentage? (Round your percentage to 1 decimal place.) 2-a Gross Profit 2-b Gross Profit Percentage $1,528 34 20 486 936 36 million
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