Pronghorn Corp reported net sales $675,000, cost of goods sold $438,750, operating expenses $154,000, and net...

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Pronghorn Corp reported net sales $675,000, cost of goods sold $438,750, operating expenses $154,000, and net income $69,525. Calculate the profit margin and gross profit rate. (Round Profit margin answer to 2 decimal places, e.g. 10.20%. Round Gross profit rate answer to O decimal place, e.g. 10%.) Profit margin Gross profit rate % do % Pronghorn Corp reported net sales $675,000, cost of goods sold $438,750, operating expenses $154,000, and net income $69,525. Calculate the profit margin and gross profit rate. (Round Profit margin answer to 2 decimal places, e.g. 10.20%. Round Gross profit rate answer to O decimal place, e.g. 10%.) Profit margin Gross profit rate % do %

Answer rating: 100% (QA)

To calculate the profit margin and gross profit rate we use the following formula... View the full answer