2. From the following data, calculate (a) Gross profit ratio (b) Net profit ratio.SalesRO 300,000RO 60,000Cost of salesSales ReturnsRO 200,000RO 20,000Net profit

Gross Profit Ratio: It is the relationship between the gross profit and net sales Net Profit Ratio:…

Answered: 2. From the following data, calculate…

2. From the following data, calculate (a) Gross profit ratio (b) Net profit ratio. RO 300,000 RO 60,000 Cost of sales Sales Returns Sales Net profit RO 200,000 RO 20,000

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter5: The Income Statement And The Statement Of Cash Flows

Section: Chapter Questions

Problem 2MC: The following information is available for Cooke Company for the current year: The gross margin is...

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Question

2. From the following data, calculate (a) Gross profit ratio (b) Net profit ratio.
Sales
RO 300,000
RO 60,000
Cost of sales
Sales Returns
RO 200,000
RO 20,000
Net profit

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