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Amy has decided to open her own business to sell cakes and cupcakes for weddings,...

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Accounting

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Amy has decided to open her own business to sell cakes and cupcakes for weddings, birthday celebrations and other events. She has had a busy year and is analyzing her income statement and finds the following: sales revenue (net sales): $94,622 cost of goods sold: $37,470 Gross profit: $57,152 The gross profit ratio for Amy's business is Select one: O a. 45.9% O b. 56.8% O c. 60.4% O d. We cannot calculate the gross profit ratio with the information given. O e. 63.8%

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