Compute the gross profit percentage for 20162016 and 20152015 . Begin by selecti

Question

Compute the gross profit percentage for

20162016

and

20152015.

Begin by selecting the formula to compute the gross profit percentage.

i've tried 152.42- 2016 and 158.96- 2015 but it was wrong.

December 31, 2016 and 2015 Current Asses s 90,000 87,000 12,000 18000 s 105,000 43,000 166,000 208,000 Accounts Recelvables, Net 360,000 376000 213,000 173000 S 573,000 $ 549,000 Property, Plant, and Equipment, Net- $599,000 s 229,000 243,000 17,000 94,000 Total Current Liabilities Long-term Liabilities 346,000 337000 Stockholders' Equity Preferred Sock-3% Common Stockholders' Equty, no par Total Liabilties and Stockholders' Equity 108,000 108000 119,000 104,000 94.000 S 573,000 $ 549,000

Explanation / Answer

Begin by selecting the formula to compute the gross profit percentage.

Gross profit percentage : Gross profit*100/sales

2015 Gross profit = 218000*100/429000 = 50.82%

2016 Gross profit = 234000*100/468000 = 50%

Debt to equity ratio = Total liabilities/Total equity

2016 = 346000/227000 = 1.52

2015 = 337000/212000 =1.59

Related Questions

Navigate

• Browse (All)
• Browse C
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.