Ziehart Pharmaceuticals reported net sales of $178,000 and cost of goods sold of $58,000. Candy Electronics Corp.

Question:

Ziehart Pharmaceuticals reported net sales of $178,000 and cost of goods sold of $58,000. Candy Electronics Corp. reported net sales of $36,000 and cost of goods sold of $26,200. Calculate the gross profit percentage for both companies. From these calculations, can you determine which company is more successful? Explain.