Spark Tech Solutions reported the following financial data for the year: • Total Sales Revenue: $540,000 Cost of Goods Sold (COGS): $315,000 ⚫ Operating Expenses: $120,000 Net Income Before Tax: $75,000 Calculate the Gross Margin A) 42.00% B) 40.50% C) 41.67% D) 39.80%

Spark Tech Solutions reported the following financial data for the year: • Total Sales Revenue: $540,000 Cost of Goods Sold (COGS): $315,000 ⚫ Operating Expenses: $120,000 Net Income Before Tax: $75,000 Calculate the Gross Margin A) 42.00% B) 40.50% C) 41.67% D) 39.80%

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter5: The Income Statement And The Statement Of Cash Flows

Section: Chapter Questions

Problem 2MC: The following information is available for Cooke Company for the current year: The gross margin is...

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Spark Tech Solutions reported the following financial data for the year:
• Total Sales Revenue: $540,000
Cost of Goods Sold (COGS): $315,000
⚫ Operating Expenses: $120,000
Net Income Before Tax: $75,000
Calculate the Gross Margin
A) 42.00%
B) 40.50%
C) 41.67%
D) 39.80%

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