Question: Can you help me solve this general accounting question using the correct accounting procedures? The following data is from the income statement of Lyndon Enterprises:

Can you help me solve this general accounting question using the correct accounting procedures?

The following data is from the income statement of Lyndon Enterprises: Revenue: $48,000 Cost of goods sold (COGS): $19,200 Operating expenses: $22,000 Net income: $6,800 What is the gross margin percentage for Lyndon Enterprises? a) 60.00% b) 40.00% c) 35.50% d) 75.00%

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