Financial information for Gill Company is presented below: $\begin{array}{cr}
\text { Operating Expenses } & \$ 92,800 \
\text { Sales Returns and Allowances } & 18,000 \
\text { Sales Discounts } & 12,000 \
\text { Sales Revenue } & 350,000 \
\text { Cost of Goods Sold } & 176,000 \
\text { The gross profit rate would be } &
\end{array}$

Question

Quizplus · Accepted Answer

The calculation for profit margin is (net income ÷ total revenue). Using the financial information provided, the calculation would be: 
($98,000 ÷ $217,500) = .45 
Therefore, the answer is B, with a profit margin of .45.

Financial Information for Gill Company Is Presented Below A) 356 B)

Financial Information for Gill Company Is Presented Below A) 356
B)