Question: Fortune Brands Home & Security, Inc.sells Master Lock padlocks. It reported an increase in net sales from $4.9 billion in 2011 to $5.2 billion in
| Fortune Brands Home & Security, Inc.sells Master Lock padlocks. It reported an increase in net sales from $4.9 billion in 2011 to $5.2 billion in 2012, and an increase in gross profit from $1.4 billion in 2011 to $1.6 billion in 2012. |
| a. | Calculate each years gross profit percentage. (Round your answers to 1 decimal place.) |
| Gross Profit Percentage 2012=______% Gross profit Percentage 2011=_______% |
| b. | Determine whether the change in gross profit was caused by. | ||||||
|
Step by Step Solution
There are 3 Steps involved in it
1 Expert Approved Answer
Step: 1 Unlock
Question Has Been Solved by an Expert!
Get step-by-step solutions from verified subject matter experts
Step: 2 Unlock
Step: 3 Unlock
