Use the following to answer questions
Pioneer Industries gathered the following year-end data (in thousands) for 2010 and 2009:
$$\begin{array} { l r r }
\text { Curent Assets } & \frac { 2010 } { 2009 } & \frac { 2345 } { \$ 365 } \
\text { Long-Tenn Arsets } & 790 & 720 \
\text { Curtert Liabilities } & 280 & 310 \
\text { Long-Term Liabilities } & 410 & 440 \
\text { Owners' Equity } & 445 & 335 \
\text { Net Sales } & 830 & 790 \
\text { Gross Margir } & 375 & 355 \
\text { Net Income } & 120 & 105
\end{array}$$
-The gross margin percentage for 2010 was:
A)32.0%
B)45.1%
C)45.2%
D)84.3%

Question

Use the following to answer questions 
Pioneer Industries gathered the following year-end data (in thousands) for 2010 and 2009:
 $$\begin{array} { l r r } 
\text { Curent Assets } & \frac { 2010 } { 2009 } & \frac { 2345 } { \$ 365 } \
\text { Long-Tenn Arsets } & 790 & 720 \
\text { Curtert Liabilities } & 280 & 310 \
\text { Long-Term Liabilities } & 410 & 440 \
\text { Owners' Equity } & 445 & 335 \
\text { Net Sales } & 830 & 790 \
\text { Gross Margir } & 375 & 355 \
\text { Net Income } & 120 & 105
\end{array}$$
-The gross margin percentage for 2010 was:
A)32.0%
B)45.1%
C)45.2%
D)84.3%

Quizplus · Accepted Answer

The gross margin percentage is calculated as (Gross Margin / Net Sales) * 100. For 2010, it is (375 / 830) * 100 = 45.2%.

Use the Following to Answer Questions Pioneer Industries Gathered

Use the Following to Answer Questions
Pioneer Industries Gathered