Coleman, Inc. provides the following data from its income statement for 2017:Net Sales$500,000Cost of Goods Sold(200,000)Gro
1 answer:
Answer: 60 %
Explanation: Gross profit refers to the amount of profit that a company has after deducting for making and selling charges.
Gross profit percentage or gross profit ratio refers to the ratio of gross profit and net sales. It is used to evaluate how much gross profit does a company makes from its sales. It is a good measure for evaluating liquidity.
This could be calculated as follows :-
=60 %
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Answer:
a. $17,978
b. $300,000
Explanation:
Conditions
- The cotton country of lancaster, california has owned his home for ten years
- purchased it for $178,000, cotton bought a $160,000 homeowner's insurance policy
- the replacement cost of the home is now $300,000
a. hence,
the proportion of the house insured = %
= 89.89%
Percentage amount covered by the policy
= proportion of the house insured = 89.89%
Amount covered by the policy in dollars
= $20,000 × 89.89%
= $17,978
b
Amount of insurance on the home that cotton should now carry to be fully reimbursed for a fire loss = current value of the home
= $ 300,000