The following financial statement items are shown for J&T Manufacturing. Net Sales $840,000 Cost of Goods...

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The following financial statement items are shown for J&T Manufacturing. Net Sales $840,000 Cost of Goods Sold $360,000 Insurance Expense $28,000 Total Operating Expenses $120,000 Net Income $56,000 Calculate the common-size percentage for Gross Margin. 11.6% 57.1% 0.8% 42.8% The following financial statement items are shown for J&T Manufacturing. Net Sales $840,000 Cost of Goods Sold $360,000 Insurance Expense $28,000 Total Operating Expenses $120,000 Net Income $56,000 Calculate the common-size percentage for Gross Margin. 11.6% 57.1% 0.8% 42.8%

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