Q2 Accounting Homework
Please attached file for complete questions
Given below are account balances for Charlie Company:
Gross sales, $108,000
Sales returns and allowances, $5,000
Selling expenses, $12,000
Cost of goods sold, $54,000
Interest expense, $3,000
How much is the gross profit margin? (enter your percentage as a decimal rounded to two decimal places. Example – enter 46% as .46)