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

Answer:

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

Step-by-step explanation:

Answer 2

The gross profit margin for Korey’s Comics given the net sales, gross profit and net income is  76.3%.

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 = gross profit / net sales

3320 /3320 = 76.3%

To learn more about financial ratios, please check: https://brainly.com/question/26092288

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