Answer:
30.77%
Explanation:
The computation of the gross profit margin is shown below:
Gross profit margin = (Gross profit ÷ Sales) × 100
where,
Gross profit would be
= Sales - costs of goods sold
= $52,000,000 - $36,000,000
= $16,000,000
And, the sales is $52,000,000
Now add these values to the formula above
So, the ratio would be equal to
= ($16,000,000 ÷ $52,000,000) × 100
= 30.77%
