Following is Stanley's income statement for the year (in millions): STANLEY INC. Income Statement For the...
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Following is Stanley's income statement for the year (in millions): STANLEY INC. Income Statement For the year ended December 31 ($ millions) Sales Cost of goods sold Gross profit Selling, general and administrative expenses Other operating expenses Operating income Interest and other nonoperating expenses Income before income tax Income tax expense Net income Compute Stanley's gross profit margin. $11,406.9 7,139.7 4,267.2 2,602.0 268.2 1,397.0 171.3 1,225.7 261.2 $964.5 Following is Stanley's income statement for the year (in millions): STANLEY INC. Income Statement For the year ended December 31 ($ millions) Sales Cost of goods sold Gross profit Selling, general and administrative expenses Other operating expenses Operating income Interest and other nonoperating expenses Income before income tax Income tax expense Net income Compute Stanley's gross profit margin. $11,406.9 7,139.7 4,267.2 2,602.0 268.2 1,397.0 171.3 1,225.7 261.2 $964.5
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Compute Stanleys gross profit margin as follows Gross Profit ... View the full answer
Related Book For
Foundations of Finance The Logic and Practice of Financial Management
ISBN: 978-0132994873
8th edition
Authors: Arthur J. Keown, John D. Martin, J. William Petty
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