Multiple Choice
Your firm has the following income statement items: sales of $52 000 000; income tax of $1 880 000; operating expenses of $9 000 000; cost of goods sold of $36 000 000; and interest expense of $800 000.Calculate the firm's gross profit margin.
A) 13.5%
B) 8.3%
C) 30.8%
D) 69.2%
Correct Answer:
Verified
Correct Answer:
Verified
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