Use the following financial information from Akerley Cafe to calculate its gross profit and gross profit margin for 2015 and 2016. Round to two decimal places. 2016 2015 Cost of Sales $133,000 $140,000 Cash $20,000 $21,000 Accounts Receivable $35,000 $45,000 Revenue $200,000 $235,000 Operating Expenses $40,000 $29,000 Net Profit $27,000 $91,000

Use the following financial information from Akerley Cafe to calculate its gross profit and gross profit margin for 2015 and 2016. Round to two decimal places. 2016 2015 Cost of Sales $133,000 $140,000 Cash $20,000 $21,000 Accounts Receivable $35,000 $45,000 Revenue $200,000 $235,000 Operating Expenses $40,000 $29,000 Net Profit $27,000 $91,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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