Your answer is partially correct. Blue Spruce Corp. reported net sales $685,000, cost of goods sold $383,600, operating expenses $226,000, and net income $60,965. Calculate the profit margin and gross profit rate. (Round Profit margin answer to 2 decimal places, e.g. 10.20%. Round Gross profit rate answer to O decimal place, e.g. 10%.) Profit margin Gross profit rate 44 % %

Your answer is partially correct. Blue Spruce Corp. reported net sales $685,000, cost of goods sold $383,600, operating expenses $226,000, and net income $60,965. Calculate the profit margin and gross profit rate. (Round Profit margin answer to 2 decimal places, e.g. 10.20%. Round Gross profit rate answer to O decimal place, e.g. 10%.) Profit margin Gross profit rate 44 % %

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Description: None Show Attempt HistoryCurrent Attempt in ProgressYour answer is partially correct.Blue Spruce Corp. reported net sales $685,000, cost of goods sold $383,600, operating expenses $226,000, and net income $60,965.Calculate the profit margin and gross

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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