The Income Statement for Otto Construction Company Appears Below

question 152

Multiple Choice

The income statement for Otto Construction Company appears below: Average total assets total $240,000.Otto's income tax rate is 25%.What is the gross margin percentage?

• A)12.5%
• B)15.8%
• C)35.6%
• D)44.4%

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Definitions:

Glass Ampule

A small sealed vial made of glass, used to contain and preserve a sample, often used for pharmaceuticals.

Filter Needle

A specialized needle designed to remove particulate matter from a solution before it is drawn into a syringe.

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A chemical compound commonly used as a disinfectant and antiseptic, as well as a solvent in various industries.

Enoxaparin Subcutaneously

A medication given through an injection into the fat layer under the skin to prevent blood clots.