Network Systems, Incorporated, had net sales of $750,000, cost of goods sold of $562,500, and net income of $100,000, Its gross margin ratio is closest to: O 4.00. O 1.88. O 0.75. 00.25. O 0.12.
Network Systems, Incorporated, had net sales of $750,000, cost of goods sold of $562,500, and net income of $100,000, Its gross margin ratio is closest to: O 4.00. O 1.88. O 0.75. 00.25. O 0.12.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Knowledge Check 01
Network Systems, Incorporated, had net sales of $750,000, cost of goods sold of $562,500, and net income of $100,000,
Its gross margin ratio is closest to:
O 4.00.
O 1.88.
O 0.75.
O 0.25.
O 0.12.
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