o. Horner Corporation reported net sales of $150.000, cost of goods sold of $96,000, operatingexpenses of $35,000, other expenses of $10,000, net income of $9,000. Calculate the followingvalues. 1. Profit margin. 2. Gross profit rate.

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Answered: o. Horner Corporation reported net…

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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o. Horner Corporation reported net sales of $150.000, cost of goods sold of $96,000, operating expenses of $35,000, other expenses of $10,000, net income of $9,000. Calculate the following values. 1. Profit margin. 2. Gross profit rate.