Peartree Ltd Provides the Following Extracts from Its Income Statement

question 22

Multiple Choice

Peartree Ltd provides the following extracts from its income statement for the year 2016: $$\begin{array} { | l | l | } \hline \text { Net sales } & \$ 560,000 \\\hline \text { Cost of sales } & ( 200,000 ) \\\hline \text { Gross profit } & \$ 360,000 \\\hline\end{array}$$ Calculate the gross profit percentage.

• A)64.29%
• B)100%
• C)35.71%
• D)45%

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Definitions:

Minor Term

In logic, specifically in syllogisms, the term that is the subject of the conclusion.

Syllogism

A form of deductive reasoning consisting of a major premise, a minor premise, and a conclusion, often structured in categorical logic.

Whales

Large marine mammals belonging to the cetacean family, known for their intelligence and often extreme size.

Minor Premise

The second premise in a syllogism, which provides a specific instance that is related to the general assertion made by the major premise.