-Refer to Table 4 -2. The Gross Profit Margin ratio for 2007 was approximately

Name: -Refer to Table 4 -2. The Gross Profit Margin ratio for 2007 was approximately
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Quizplus · Accepted Answer

The Gross Profit Margin ratio for 2007 is calculated as Gross Profit / Net Sales. From Table 4-2, Gross Profit for 2007 is $1,212 and Net Sales for 2007 is $2,200. Therefore, the Gross Profit Margin ratio for 2007 is $1,212 / $2,200 = 0.55, which is approximately 0.55.