Answer:
37%
Explanation:
We would calculate the gross profit for the above company as;
Gross profit = Revenue - Cost of goods sold
Given that;
Revenue = $68,000,000
Cost of goods sold = 42,840,000
Gross profit?
Therefore,
Gross profit = $68,000,000 - $42,840,000 = $25,160,000
Gross profit percentage will now be computed as;
Gross profit percentage = Gross profit ÷ Revenue
= $25,160,000 ÷ $68,000,000
= 37%
The company's gross profit percentage for 2018 is 37%.
