Calculate Kolbys gross profit percentage and return on sales ratio. Kolby is planning to add...
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Accounting
Calculate Kolbys gross profit percentage and return on sales ratio. Kolby is planning to add a new product and expects net sales to be $30,000 and cost of goods to be $25,000. No other income or expenses are expected to change. How will this affect Kolbys gross profit percentage and return on sales ratio? (Round all answers to 1 decimal place.) Gross Profit Percentage Answer 36.4 Return on Sales Answer 18.2 IF NEW PRODUCT IS MADE Gross Profit Percentage Answer 74 Return on Sales Answer 58
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