Calculate the gross and net profits (in $) and the two profit margins (as %s) for the given company. (Round profit margins to the nearest tenth of a percent.)Gross ProfitMargin (%)38.43 %CompanyNet Salesan optometry store $340,735Cost ofGoods Sold$209,655$GrossProfitOperatingExpenses$83,921Net Profit$ 47,159✓Net ProfitMargin (%)%

The income statement is an essential part of the financial statements of the company. It is prepared…

Calculate the gross and net profits (in $) and the two profit margins (as %s) for the given company. (Round profit margins to the nearest tenth of a percent.) Cost of Goods Sold Gross Profit Operating Expenses Gross Profit Margin (%) Net Profit Margin (%) Company an optometry store Net Sales $340,735 $209,655 $ $83,921 Net Profit $ 47,159 38.43 % %

Calculate the gross and net profits (in $) and the two profit margins (as %s) for the given company. (Round profit margins to the nearest tenth of a percent.) Cost of Goods Sold Gross Profit Operating Expenses Gross Profit Margin (%) Net Profit Margin (%) Company an optometry store Net Sales $340,735 $209,655 $ $83,921 Net Profit $ 47,159 38.43 % %

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter5: The Income Statement And The Statement Of Cash Flows

Section: Chapter Questions

Problem 2MC: The following information is available for Cooke Company for the current year: The gross margin is...

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