If a company had net sales of $56,000, gross profit of $33,000, and net income of $8,000, the gross profit percentage would be approximately 59%.

Name: If a company had net sales of $56,000, gross profit of $33,000, and net income of $8,000, the gross profit percentage would be approximately 59%.
Brand: Quizplus
Rating: 4.8 (48 reviews)

Question

Quizplus · Accepted Answer

Gross profit percentage is calculated by dividing gross profit by net sales and multiplying by 100. In this case, (33,000/56,000) x 100 = 58.93%, which can be rounded to 59%.

If a Company Had Net Sales of $56,000, Gross Profit