The following information pertains to Cobb Corporations financial results for the past year.Net sales .........................$135,000Cost of goods sold ............ 48,000Other expenses ................ 37,000Net income ........................ 50,000 Required :Calculate Cobbs (1) Gross profit margin ratio (2) Net profit margin ratio.
Chapter 5, Cornerstone Exercise #16
The following information pertains to Cobb Corporation’s financial results for the past year.
Net sales .........................$135,000
Cost of goods sold ............ 48,000
Other expenses ................ 37,000
Net income ........................ 50,000
Required:
Calculate Cobb’s
(1) Gross profit margin ratio
(2) Net profit margin ratio.
Net sales .........................$135,000
Cost of goods sold ............ 48,000
Other expenses ................ 37,000
Net income ........................ 50,000
Required:
Calculate Cobb’s
(1) Gross profit margin ratio
(2) Net profit margin ratio.
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Related Book For 
Cornerstones of Financial and Managerial Accounting
2nd edition
Authors: Rich, Jeff Jones, Dan Heitger, Maryanne Mowen, Don Hansen
ISBN: 978-1111879044