If sales revenue is $600,000 and cost of sales is $450,000, the gross profit margin is:33%25%67%75%

Question 2Lou's Tavern recorded $60,000 in sales revenue and a cost of goods sold of $45,000 on their income statement this month. What is their Gross Profit Margin? (enter your answer as a decimal and round to the nearest hundredth, example x.xx)

A company's net sales were $727,700, its cost of goods sold was $244,510 and its net income was $62,450. Its gross margin ratio equals:Multiple Choice8.6%.25.5%.33.6%.66.4%.297.6%.

Profit margin is calculated by dividing:Question 2Answera.sales by cost of sales.b.profit by total assetsc.profit by equityd.profit by net sales

Using the financial statements below, calculate the profit margin as a percentage for the current year. Please calculate to 1 decimal place. Do not use the % symbol. For example, if it is 3.2%, enter 3.2 into the box. If your answer is a negative, please include the minus symbol before the number (no space in between)Profit and loss statement Current year Prior yearRevenue 14,800 18,500Less Cost of sales 6,000 7,500Gross profit 8,800 11,000Less expenses Wages Expense 5,500 6,500Interest Expense 2,200 2,000Depreciation Expense 1,000 1,200Advertising Expense 900 800Net profit (800) 500BALANCE SHEET Current year Prior yearCurrent assets Cash 14,250 16,700Accounts Receivable 14,000 3,500Inventory 6,000 2,500Prepaid Expenses 650 1,500Non-current assetsProperty Plant Equipment 192,500 193,500Land 210,000 210,000Total assets 437,400 427,700Current liabilitiesAccounts Payable 11,700 4,200Unearned Revenue 3,500 2,000Wages Payable 3,500 2,500Non-current liabilitiesBank Loan 118,000 122,500Total liabilities 136,700 131,200NET ASSETS 300,700 296,500Equity Share Capital 255,000 250,000Retained Earnings 45,700 46,500TOTAL EQUITY 300,700 296,500

If sales = $455,000, purchases = $225,000, beginning inventory = $150,000 and ending inventory = $118,000, gross profit is:$198,000$230,000$75,000$257,000