Question

Last month, Korey’s Comics had $4,350 in net sales with a gross profit of $3,320 and a net income of $1,850. Calculate Korey’s gross profit margin. a. 42.5% b. 55.7% c. 76.3% d. 179.5%

Answer 1

The gross profit margin for Korey’s Comics given the net sales, gross profit and net income is  55.7%.

What is the gross profit margin?

Gross profit margin is a profitability ratio. It is used to measure the financial health of a company and used to determine the efficiency with which the firm generates profits.

Gross profit margin = net income / gross profit

1850 /3320 = 55.7%

Answer 2

Answer:

actually its A... i know cause i got it WRONG

Step-by-step explanation: