X Co. has the following information: Sale $ 1,200,000 Cost of sales $800,000 Operating expenses $200,000 current liabilities $120,000 Non-current liabilities $200,000 share capital $ 500,000 Retained earnings $ 300,000 the gross margin ratio is а. 3 x b. 20% С. 17% d. 34%

Fundamentals of Financial Management (MindTap Course List)
15th Edition
ISBN:9781337395250
Author:Eugene F. Brigham, Joel F. Houston
Publisher:Eugene F. Brigham, Joel F. Houston
Chapter4: Analysis Of Financial Statements
Section: Chapter Questions
Problem 24P: Income Statement for Year Ended December 31, 2018 (Millions of Dollars) Net sales 795.0 Cost of...
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X Co. has the following information:
Sale $ 1,200,000
Cost of sales $800,000
Operating expenses $200,000
current liabilities $120,000
Non-current liabilities $200,000
share capital $ 500,000
Retained earnings $ 300,000
the gross margin ratio is
а.
3 x
b.
20%
С.
17%
d.
34%
Transcribed Image Text:X Co. has the following information: Sale $ 1,200,000 Cost of sales $800,000 Operating expenses $200,000 current liabilities $120,000 Non-current liabilities $200,000 share capital $ 500,000 Retained earnings $ 300,000 the gross margin ratio is а. 3 x b. 20% С. 17% d. 34%
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