Multiple Choice
A retail chain sells 100 designer sheet sets for $199.99 a set; these sheet sets cost the company $69.95 a set to buy.The company also sells 1,000 basic sheet sets for $49.99 a set; these sheet sets cost the company $24.99 to buy.Other operating expenses total $10,000.Which of the following statements is true?
A) The company's net income is $38,004.
B) Rounded to the nearest whole number,the gross profit percentage is 65% on the designer sheets and 50% on the basic sheets.
C) The company's gross profit is $28,004.
D) All of the answers are acceptable.
Correct Answer:
Verified
Correct Answer:
Verified
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