Question: Please help. I have tried everything to answer the second one, but nothing seems to be working. Profitability Analysis Shannon Enterprises reports the following information

Please help. I have tried everything to answer the second one, but nothing seems to be working.

Please help. I have tried everything to answer the second one, but

Profitability Analysis Shannon Enterprises reports the following information on its year-end income statement: Net Sales 180,000 Operating Expenses $40,000 Cost of Goods Sold 110,000 Other Income 25,000 Required Calculate Shannon's gross profit percentage and return on sales ratio (Round answer to one decimal place.) Gross profit percentage 38.9 Return on sales ratio 96 Check

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