A Company Had Net Sales of $752,000 and Cost of Goods

question 130

Multiple Choice

A company had net sales of $752,000 and cost of goods sold of $543,000.Its net income was $17,530.The company's gross margin ratio equals:

• A)18.9%
• B)24.5%
• C)27.8%
• D)34.7%
• E)35.2%

---

Definitions:

Circadian Rhythms

Physical, mental, and behavioral changes that follow a 24-hour cycle, responding primarily to light and darkness in an organism's environment.

Dysrhythmia

An abnormality in a physiological rhythm, especially in the pattern of electrical activity in the heart, leading to irregular heartbeat.

Abnormal Rhythm

Irregular patterns of the heart beat that can affect blood flow and may signify underlying health issues.

Pulse Deficit

A condition where there’s a difference between the heartbeats felt at the wrist and those heard at the heart, indicating cardiac issues.