A company has net sales of $124,000, cost of goods sold of $76,000, and operating expenses of $45,000. The company's net income percentage is approximately:

Question

Quizplus · Accepted Answer

To find the company's net income percentage, we first need to calculate the net income:

Net Sales - Cost of Goods Sold - Operating Expenses = Net Income
$124,000 - $76,000 - $45,000 = $3,000

Now, we can calculate the net income percentage:

Net Income / Net Sales x 100 = Net Income Percentage
$3,000 / $124,000 x 100 = 2.42%

Therefore, the correct answer is C) 2.4%.

A Company Has Net Sales of $124,000, Cost of Goods