Olivera Ltd Provides the Following Data for the Year 2016

question 70

Multiple Choice

Olivera Ltd provides the following data for the year 2016:
$$\begin{array} { | l | l | } \hline \text { Sales revenue } & \$ 629,000 \\\hline \text { Sales returns and allowances } & 20,000 \\\hline \text { Sales discounts } & 6000 \\\hline \text { Net sales revenue } & \$ 603,000 \\\hline \text { Cost of sales } & \$ 390,000 \\\hline\end{array}$$
On a vertical analysis report,the gross profit as a percentage of net sales will be:

• A) 35.32%
• B) 33.86%
• C) 36.32%
• D) 64.68%

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