Answered: The net sales for a company were…

The net sales for a company were $3,600,000; gross profit was $600,000; and net income was $260,000. The rate of return on net sales would be: - 0.4333. - 0.1667. -0.0722. - 0.2389.

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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Question

Please correct answer with accounting and question

The net sales for a company were $3,600,000; gross
profit was $600,000; and net income was $260,000.
The rate of return on net sales would be:
- 0.4333.
- 0.1667.
-0.0722.
- 0.2389.

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