^{Profit and Loss For the month ended 31 July 2022}

Trading Income- Sales: 17,307, Total Trading Income: 17,307

Cost of Sales- Cost of Goods Sold: 60 Total Cost of Sales: 60

Gross Profit- 17,247

Operating Expenses- Bad and Doubtful Debts:9,647 Consulting & Accounting: 227 Depreciation: 135 Insurance: 616 Interest Expense: 2,203 Light, Power, Heating: 436 Wages and Salaries: 17,600

Total Operating Expenses: 30,864

Net Profit: (13,617)

Based on the trading information in July 2022: Assuming OwnerA was not on the payroll for July 2022. If OwnerA was paid gross wages of $9000 for her labour time as direct cost for repairs work completed for the business for the month

What would be the new gross profit [GP] margin % of this business?

Answer rating: 100% (QA)

To calculate the new gross profit margin of the business we need to adjust the cost of sales to incl... View the full answer