Answered: sales for a firm are $510,000, cost of…

sales for a firm are $510,000, cost of goods sold are $395,000, and interest expenses are $15,000. What is the gross profit mar O 22.5% 20.5% O 19.6% O 18.9%

Intermediate Financial Management (MindTap Course List)

13th Edition

ISBN:9781337395083

Author:Eugene F. Brigham, Phillip R. Daves

Publisher:Eugene F. Brigham, Phillip R. Daves

Chapter7: Analysis Of Financial Statements

Section: Chapter Questions

Problem 5P: Needham Pharmaceuticals has a profit margin of 3% and an equity multiplier of 2.0. Its sales are...

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Question

Sales for a firm are $510,000, cost of goods sold are $395,000, and interest expenses are $15,000. What is the gross profit margin?
O 22.5%
O 20.5%
19.6%
O 18.9%

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