Compute profit margin ratio given the following information.
Cost of goods sold: $28,000
Net income: $21,400
Gross profit: $400,000
A)5%
B)7%
C)1.65%
D)6.64%
E)76.42%

Question

Compute profit margin ratio given the following information. 
Cost of goods sold: $28,000
Net income: $21,400
Gross profit: $400,000
A)5%
B)7%
C)1.65%
D)6.64%
E)76.42%

Quizplus · Accepted Answer

The Answer of Compute profit margin ratio given the following information. 
Cost of goods sold: $28,000
Net income: $21,400
Gross profit: $400,000
A)5%
B)7%
C)1.65%
D)6.64%
E)76.42%

Compute Profit Margin Ratio Given the Following Information