Garrit Limited's income statement reported the following for the year ended Dec 31,2016:
Which is the correct statement about the income statement?
A) Mark-up on selling price is $573,000.
B) Mark-up on cost is 53.75%.
C) Gross margin percentage is 20.32%.
D) Mark-up on the selling price is $308,000.
Correct Answer:
Verified
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