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
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Calculate Alex’s Gross profit percentage and return on sales ratio. (round answer to one decimal place.)
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
Transcribed Image Text: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
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