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The net income is $2,500, sales is $25,000, and cost of goods sold is $17,500. What is the gross margin?

The net income is $2,500, sales is $25,000, and cost of goods sold is $17,500. What is the gross margin?

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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Hi expert please give me answer general accounting question

The net income is $2,500, sales is $25,000, and cost of goods sold is $17,500. What is the gross margin?
Transcribed Image Text:The net income is $2,500, sales is $25,000, and cost of goods sold is $17,500. What is the gross margin?
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