Hick Corporation's most recent balance sheet and income statement appear below: Dividends on common stock during Year 2 totaled $60 thousand. Dividends on preferred stock totaled $20 thousand. The market price of common stock at the end of Year 2 was $9.57 per share.
-The gross margin percentage for Year 2 is closest to:
A)82.9%
B)45.3%
C)446.2%
D)22.4%

Question

Hick Corporation's most recent balance sheet and income statement appear below:   Dividends on common stock during Year 2 totaled $60 thousand. Dividends on preferred stock totaled $20 thousand. The market price of common stock at the end of Year 2 was $9.57 per share.
-The gross margin percentage for Year 2 is closest to:
A)82.9% 
B)45.3% 
C)446.2% 
D)22.4%

Quizplus · Accepted Answer

Gross margin percentage = Gross margin F1F1F1S1F1F1F10 Sales = $580 F1F1F1S1F1F1F10 $1,280 = 45.3%

Hick Corporation's Most Recent Balance Sheet and Income Statement Appear