The Following Information Is Taken from the Accounting Records of Bo's

Essay

The following information is taken from the accounting records of Bo's Bikes Limited for the current year:
$$\begin{array} { l r } \text { Administration expenses } & 120000 \\\text { Cost of goods sold } & 570000 \\\text { Selling and distribution expenses } & 220000 \\\text { Interest expense } & 50000 \\\text { Net Sales } & 1200000\end{array}$$ a. Prepare a classified income statement for Bo's Bikes.
b. Calculate the company's gross profit percentage.
c. Calculate the company's profit margin.