Answer:
33%
Explanation:
Given that,
Net sales revenue = $62,000,000
Cost of goods sold = $41,540,000
Net income reached the company's highest ever = $9,000,000
Gross profit:
= Net sales revenue - Cost of goods sold
= $62,000,000 - $41,540,000
= $20,460,000
Therefore, the gross profit percentage is calculated by dividing the gross profit by the net sales.
Gross profit percentage for 2016:
= (Gross profit ÷ Net sales) × 100
= ($20,460,000 ÷ $62,000,000) × 100
= 0.33 × 100
= 33%
