The income statement of Ellen Corporation for the years 2018 and 2019 showed the following information....

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The income statement of Ellen Corporation for the years 2018 and 2019 showed the following information. Sales 2019 2018 $97,000 $74,000 Cost of Goods Sold $74,000 $47,000 Gross Profit $23,000 $27,000 a) Calculate the gross profit margins for both years. Do not enter dollar signs or commas in the input boxes. Round the gross profit margin to 2 decimal places. 2019 2018 Gross Profit Margin % % b) In which year does Ellen Corporation have a better gross profit margin? Year: The income statement of Ellen Corporation for the years 2018 and 2019 showed the following information. Sales 2019 2018 $97,000 $74,000 Cost of Goods Sold $74,000 $47,000 Gross Profit $23,000 $27,000 a) Calculate the gross profit margins for both years. Do not enter dollar signs or commas in the input boxes. Round the gross profit margin to 2 decimal places. 2019 2018 Gross Profit Margin % % b) In which year does Ellen Corporation have a better gross profit margin? Year:

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a To calculate the gross profit margins for both years we use the formula Gro... View the full answer