Selected data from the financial statements of KRJ Manufacturing are presented below. Calculate the gross profit...

Selected data from the financial statements of KRJ Manufacturing are presented below. Calculate the gross profit margin, presenting your answer in percentage terms, rounded to two decimal places. e.g. 20.00%.

Sales $107,262

Cost of goods sold $51,727

Operating profits (EBIT) $32,852

Earnings before taxes (EBT) $28,308

Net profits $18,706

Tax expense 8,310

Depreciation expense $14,562

Total assets, beg of year $89,075

Total assets, end of year $83,449

Total equity, beg of year $42,951

Total equity, end of year $40,310

Cash flow from operations $28,084

Solutions

Expert Solution

Gross profit=Sales-Cost of goods sold

=107,262-51,727

=$55535

Gross profit margin=Gross profit/Sales

=55535/107,262

=51.78%(Approx)

jeff jeffy answered 1 year ago

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