Profitability Analysis Alex Enterprises reports the following information on its year-end income statement: Net Sales $310,000 Operating Expenses $60,000 Cost of Goods Sold 210,000 Other Income 20,000 Required Calculate Alex's gross profit percentage and return on sales ratio. (Round answer to one decimal place.) 96 Gross profit percentage = Return on sales ratio = 96

Profitability Analysis Alex Enterprises reports the following information on its year-end income statement: Net Sales $310,000 Operating Expenses $60,000 Cost of Goods Sold 210,000 Other Income 20,000 Required Calculate Alex's gross profit percentage and return on sales ratio. (Round answer to one decimal place.) 96 Gross profit percentage = Return on sales ratio = 96

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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