A Firm Has Net Sales of $43,000, Operating Expenses of $8,200

question 53

Multiple Choice

A firm has net sales of $43,000, operating expenses of $8,200, depreciation of $2,500, and cost of goods sold of $21,400. What is the gross margin?

• A)41.1%
• B)45.4%
• C)47.7%
• D)50.2%
• E)55.1%

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Definitions:

Axon

A long, thin part of a neuron that transmits impulses to other neurons through branching structures called axon terminals.

Phenylketonuria

A genetic disorder caused by a deficiency in the enzyme needed to metabolize phenylalanine, leading to intellectual disability and other health issues if untreated.

Intellectual disability

A condition characterized by significant limitations in both intellectual functioning and in adaptive behavior, originating before the age of 18.

Myelin

A fatty substance that surrounds and insulates nerve fibers, speeding up the transmission of electrical signals in the nervous system.