Garten Corporation reported net sales $800,000, cost of goods sold $520,000, operating expenses $210,000, and net income

Question:

Garten reported net sales $800,000, cost of goods sold $520,000, operating expenses $210,000, and net income $68,000. Calculate the following values and explain what they mean:
(a) Profit margin
(b) Gross profit rate.
Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...