Review of the financial statements revealed the following for Blossom Inc.: sales $ 1254000, net income $42600, total assets $686000, long-term debt $750000, interest expense $76800 and cost of goods sold $790020. What is the Hyde's gross profit margin closest to ? 63% 37% 54% 3%

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
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Chapter1: Financial Statements And Business Decisions
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Review of the financial statements revealed the following for Blossom Inc.: sales $
1254000, net income $42600, total assets $686000, long-term debt $750000,
interest expense $76800 and cost of goods sold $790020. What is the Hyde's gross
profit margin closest to ? 63% 37% 54% 3%
Transcribed Image Text:Review of the financial statements revealed the following for Blossom Inc.: sales $ 1254000, net income $42600, total assets $686000, long-term debt $750000, interest expense $76800 and cost of goods sold $790020. What is the Hyde's gross profit margin closest to ? 63% 37% 54% 3%
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