Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. amy has decided to open her own business to sell c

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

60.1K

Verified Solution

Question

Accounting

image

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%

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Write an equation in standard form given slope =-3/4; P(-1,2)  a. 3x+ 4y =5 b. 3x-4y=5...

Basic Math
Q

For a particular isomer of C8H18,C8H18, the combustion reaction produces 5093.7 kJ5093.7 kJ of heat per...

Chemistry
Q

Carbon disulfide is prepared by heating sulfur and charcoal. The chemical equation is S2 (g) + C...

Chemistry
Q

2 A resistance is shown in the figure Its value and tolerance are given respectively...

Physics
Q

1 point Determine the end behavior of the following polynomial function f x 8 15x5...

Basic Math
Q

Find the exact value of the expression sec tan Select the correct choice and fill...

Basic Math
Q

5 33 Pollutants in auto exhausts continued The level of nitrogen oxides NOX and nonmethane...

Statistics
Q

The expression 32x 18 can be factored completely as 2 16x 9 True False

Algebra
Q

Which of the following represents a correct journal entry for the payment of rent? ...

Accounting
Q

Sanders Company has total assets of $415 million. Its total liabilities are $115.1 million, and...

Accounting
Q

The Trister company uses variable costing. There are no beginning or ending inventories You are...

Accounting
Q

What is the objective of financial reporting? Provide information that is useful to management in...

Accounting