Kearin Corporation has provided the following financial data: Dividends on common stock during Year 2 totaled $8,000. The market price of common stock at the end of Year 2 was $2.02 per share. The company's gross margin percentage for Year 2 is closest to:
A)62.5%
B)4.2%
C)38.5%
D)2381.0%

Question

Kearin Corporation has provided the following financial data:   Dividends on common stock during Year 2 totaled $8,000. The market price of common stock at the end of Year 2 was $2.02 per share. The company's gross margin percentage for Year 2 is closest to:
A)62.5% 
B)4.2% 
C)38.5% 
D)2381.0%

Quizplus · Accepted Answer

We cannot determine the gross margin percentage using the given financial data.

Kearin Corporation Has Provided the Following Financial Data