In 2021, Culver Corporation reported sales of $270,500, cost of goods sold of $125,512, operating expenses...

  

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In 2021, Culver Corporation reported sales of $270,500, cost of goods sold of $125,512, operating expenses of $48,100, and income tax expense of $21,148. In 2020, it reported sales of $189.100, cost of goods sold of $122,915, operating expenses of $38,300, other revenues of $10,300, and income tax expense of $13,602. Calculate the gross profit margin and profit margin for each year. (Round answers to 1 decimal place, e.g. 5.2%.) Gross profit margin Profit margin 2021 % % 2020 % % In 2021, Culver Corporation reported sales of $270,500, cost of goods sold of $125,512, operating expenses of $48,100, and income tax expense of $21,148. In 2020, it reported sales of $189.100, cost of goods sold of $122,915, operating expenses of $38,300, other revenues of $10,300, and income tax expense of $13,602. Calculate the gross profit margin and profit margin for each year. (Round answers to 1 decimal place, e.g. 5.2%.) Gross profit margin Profit margin 2021 % % 2020 % %

Answer rating: 100% (QA)

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