The net sales for James,Inc.were $4,000,000; net income was $510,000; and gross profit was $1,300,000.The return on sales ratio would be:
A)12.75%.
B)32.50%.
C)45.25%.
D)39.23%.

Name: The net sales for James,Inc.were $4,000,000; net income was $510,000; and gross profit was $1,300,000.The return on sales ratio would be: A)12.75%. B)32.50%. C)45.25%. D)39.23%.
Brand: Quizplus
Rating: 4.8 (37 reviews)

Question

Quizplus · Accepted Answer

Return on sales ratio = net income / net sales x 100%

= $510,000 / $4,000,000 x 100%

= 12.75%

The Net Sales for James,Inc