The income statement for Otto Construction Company appears below: Average total assets total $240,000.Otto's income tax rate is 25%.What is the gross margin percentage?
A)12.5%
B)15.8%
C)35.6%
D)44.4%

Question

The income statement for Otto Construction Company appears below:  Average total assets total $240,000.Otto's income tax rate is 25%.What is the gross margin percentage?
A)12.5% 
B)15.8% 
C)35.6% 
D)44.4%

Quizplus · Accepted Answer

The Answer of The income statement for Otto Construction Company appears below:  Average total assets total $240,000.Otto's income tax rate is 25%.What is the gross margin percentage?
A)12.5% 
B)15.8% 
C)35.6% 
D)44.4%

The Income Statement for Otto Construction Company Appears Below