Katz Group
Katz Group Had the Following Income Statement for the Month

question 186

Multiple Choice

Katz Group
Katz Group had the following income statement for the month of May. $\begin{array}{lr}\text { Sales revenue } & \$ 428,000 \\\text { Cost of goods sold } & 205,440 \\\text { Gross margin } & 222,560\\\text { Less: }\\\text { Selling expenses } & 81,32 0\\\text { Administrative expenses } & 72,760\\\text { Operating income }&\$68,480\end{array}$
-Refer to Katz Group. What was the cost of goods sold percentage?

• A) 19%
• B) 48%
• C) 52%
• D) 100%

---

Definitions:

Suggest Strategies

The process of proposing plans or methods to solve specific problems or achieve objectives, typically within a business or organizational context.

Total Gain

The complete profit or advantage obtained from an investment or a series of transactions.

Stock-Purchase Plans

Corporate programs allowing employees to buy shares of the company's stock, often at a discount, as part of their benefits.

Performance Incentive

A reward system designed to enhance motivation and improve worker productivity by providing bonuses or other benefits linked to achievement of specific goals.