sales for a firm are $510,000, cost of goods sold are $395,000, and interest expenses are $15,000. What is the gross profit mar O 22.5% 20.5% O 19.6% O 18.9%

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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Sales for a firm are $510,000, cost of goods sold are $395,000, and interest expenses are $15,000. What is the gross profit margin?
O 22.5%
O 20.5%
19.6%
O 18.9%
Transcribed Image Text:Sales for a firm are $510,000, cost of goods sold are $395,000, and interest expenses are $15,000. What is the gross profit margin? O 22.5% O 20.5% 19.6% O 18.9%
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