Multiple Choice
Lennox Limited reported sales of $5,000,000, cost of goods sold of $3,200,000, operating expenses of $1,400,000, and income tax expense of $160,000 for the year.What is the gross profit percentage for the year?
A) 4.8%
B) 8%
C) 36%
D) 64%
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q21: Why is the cash basis of accounting
Q22: If a company used some cash
Q23: Which of the following statements about general
Q24: Which of the following correctly describes an
Q25: Prepare a proper balance sheet for
Q27: The best description of the financial statements
Q28: What would a creditor calculate to assess
Q29: Show the effect that each of the
Q30: What does the term "deficit" mean in
Q31: Which of the following statements about an