8.

Financial information is presented below:

Operating expenses	$ 45,000
Sales returns and allowances	3,000
Sales discounts	7,000
Sales revenue	160,000
Cost of goods sold	96,000

The profit margin would be

A)

.36.

B)

.05.

C)

.12.

D)

.06.

9.

A company shows the following balances:

Sales Revenue	$ 800,000
Sales Returns and Allowances	75,000
Sales Discounts	25,000
Cost of Goods Sold	490,000

What is the gross profit rate?

A)

61%

B)

70%

C)

30%

D)

39%