Connie 's Convenience Store had sales of $500,000 in the year The gross margin was $300,000 Operating income was $100,000 Companies in similar businesses expect a gross margin of 70 and an operating income as of sales of 25 Required (a) Calculate the gross margin (b) Calculate the operating income ...

Answer Solution a 60 b 20 c Connies Convenience Store is doing badly Stepbystep explanation Given da ...

Connie's Convenience Store had sales of $500,000 in the year. The gross margin was $300,000. Operating income

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Connie's Convenience Store had sales of $500,000 in the year. The gross margin was $300,000. Operating income was $100,000.

Companies in similar businesses expect a gross margin of 70% and an operating income as % of sales of 25%.
Required

(a) Calculate the gross margin %.
(b) Calculate the operating income as % of sales.
(c) Is Connie's Convenience Store doing well or doing badly?

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Business Mathematics In Canada

ISBN: 978-0070009899

7th edition

Authors: Ernest Jerome

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Posted Date: May 25, 2023 01:31 AM

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Connie's Convenience Store had sales of $500,000 in the year. The gross margin was $300,000. Operating income

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Business Mathematics In Canada

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