Newark Company Has Provided the Following Information

question 53

Multiple Choice

Newark Company has provided the following information:
Cash sales,$450,000
Credit sales,$1,350,000
Selling and administrative expenses,$330,000
Sales returns and allowances,$90,000
Depreciation expense,$101,000
Gross profit,$1,360,000
Increase in accounts receivable,$55,000
Bad debt expense,$33,000
Sales discounts,$43,000
How much is Newark's gross profit percentage?

• A)75.5%
• B)81.6%
• C)53.7%
• D)83.2%

---

Definitions:

Maintenance Activities

The tasks performed to keep equipment, systems, or infrastructure in working order and prevent failures.

Maintenance Leadership

Leadership focused on preserving and maintaining necessary standards, processes, and functions within an organization to ensure its continued operation.

Group Membership

Involves being a part of a collection of individuals who identify with one another or share a sense of unity.

Behavior Profiles

Descriptions of individuals’ patterns of action, reactions, and interactions, often used in psychology and behavioral sciences to understand or predict behavior.