Barten Corporation reported net sales $800,000; cost of goods sold $520,000; operating expenses $210,000; and net income

Question:

Barten reported net sales $800,000; cost of goods sold $520,000; operating expenses $210,000; and net income $68,000. Calculate the following values and explain what they mean:
(a) Profit margin.
(b) Gross profit rate.

Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...