Use the following selected 2019 balance sheet and income statement information for Life Improvements Co. (in millions) to compute the gross profit percentage to the nearest hundredth of a percent.
A) 50.34%
B) 77.45%
C) 10.31%
D) 51.63%

Question

Use the following selected 2019 balance sheet and income statement information for Life Improvements Co. (in millions) to compute the gross profit percentage to the nearest hundredth of a percent. 
A) 50.34% 
B) 77.45% 
C) 10.31% 
D) 51.63%

Quizplus · Accepted Answer

$2,101,200 / $2,713,008 = 77.45%

Use the Following Selected 2019 Balance Sheet and Income Statement