Arlington Merchants reported the following on its income statement for the fiscal years ending December 31,...
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Arlington Merchants reported the following on its income statement for the fiscal years ending December 31, 2013 and 2012. 2013 $4,853,000 3,266,150 1,586,850 876,280 $710,570 Sales Cost of goods sold Gross Profit Operating expenses Profit 2013 ▼ (a) Calculate the gross profit margin for Arlington for 2012 and 2013. (Round answers to 1 decimal place, e.g. 52.7%.) 2012 Gross profit margin 2012 $4,752,800 3,201,500 % 1,551,300 894,080 $657,220 Arlington Merchants reported the following on its income statement for the fiscal years ending December 31, 2013 and 2012. 2013 $4,853,000 3,266,150 1,586,850 876,280 $710,570 Sales Cost of goods sold Gross Profit Operating expenses Profit 2013 ▼ (a) Calculate the gross profit margin for Arlington for 2012 and 2013. (Round answers to 1 decimal place, e.g. 52.7%.) 2012 Gross profit margin 2012 $4,752,800 3,201,500 % 1,551,300 894,080 $657,220
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Financial Accounting
ISBN: 978-0077862268
2nd edition
Authors: J. David Spiceland, Wayne Thomas, Don Herrmann
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