None TechGrow Solutions reported an increase in net salesfrom $2.8 billion in 2022 to $3.2 billion in 2023, and anincrease in gross profit from $0.9 billion in 2022 to $1.1billion in 2023. Calculate each year's profit percentage.

Step 1: Define Gross profit:Gross profit can be referred to as the amount of sales revenue that is…

Answered: TechGrow Solutions reported an increase…

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter4: Financial Planning And Forecasting

Section: Chapter Questions

Problem 7P

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TechGrow Solutions reported an increase in net sales from $2.8 billion in 2022 to $3.2 billion in 2023, and an increase in gross profit from $0.9 billion in 2022 to $1.1 billion in 2023. Calculate each year's profit percentage.