Li Retailing reported the following items for the current year: Sales = $3,000,000; Cost of Goods
Sold = $1,500,000; Depreciation Expense = $170,000; Administrative Expenses = $150,000;
Interest Expense = $30,000; Marketing Expenses = $80,000; and Taxes = $300,000. Li\'s gross
profit is equal to
Solution
36.67%
Sold = $1,500,000; Depreciation Expense = $170,000; Administrative Expenses = $150,000;
Interest Expense = $30,000; Marketing Expenses = $80,000; and Taxes = $300,000. Li\'s gross
profit is equal to
Solution
36.67%
