XYZ Corporation reported net sales of $8.5 billion in 2022 and $9.2 billion in 2023. Their gross profits were $2.8 billion in 2022 and $3.1 billion in 2023. Calculate the profit percentage for each year and determine if there was an improvement in profitability.

XYZ Corporation reported net sales of $8.5 billion in 2022 and $9.2 billion in 2023. Their gross profits were $2.8 billion in 2022 and $3.1 billion in 2023. Calculate the profit percentage for each year and determine if there was an improvement in profitability.

Pfin (with Mindtap, 1 Term Printed Access Card) (mindtap Course List)

7th Edition

ISBN:9780357033609

Author:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk

Publisher:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk

Chapter11: Investment Planning

Section: Chapter Questions

Problem 7FPE: Using the Value Line Investment Survey report in Exhibit 11.5, find the following information for...

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I want to correct answer general accounting question

XYZ Corporation reported net sales of $8.5 billion in 2022 and $9.2
billion in 2023. Their gross profits were $2.8 billion in 2022 and $3.1
billion in 2023. Calculate the profit percentage for each year and
determine if there was an improvement in profitability.

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