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The following figures are reported on the income statement of Brighton Co.: • Revenue: $50,000 • Cost of goods sold: $20,000 • Operating expenses: $22,000 • Net income: $8,000 What is the gross margin percentage? a) 60.0% b) 44.0% c) 40.0% d) 16.0%

The following figures are reported on the income statement of Brighton Co.: • Revenue: $50,000 • Cost of goods sold: $20,000 • Operating expenses: $22,000 • Net income: $8,000 What is the gross margin percentage? a) 60.0% b) 44.0% c) 40.0% d) 16.0%

Intermediate Accounting: Reporting And Analysis
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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The following figures are reported on the income statement of Brighton Co.: • Revenue: $50,000 • Cost of goods sold: $20,000 • Operating expenses: $22,000 • Net income: $8,000 What is the gross margin percentage? a) 60.0% b) 44.0% c) 40.0% d) 16.0%
Transcribed Image Text:The following figures are reported on the income statement of Brighton Co.: • Revenue: $50,000 • Cost of goods sold: $20,000 • Operating expenses: $22,000 • Net income: $8,000 What is the gross margin percentage? a) 60.0% b) 44.0% c) 40.0% d) 16.0%
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