Homework Answers
--Requirements
| Gross Profit % | 31.6% | [$ 60000 / $ 190000] x 100 |
| Return on Sales ratio | 26.3% | [$ 50000 net income / $ 190000] x 100 |
--Related working
| A | Net Sales | $190,000 |
| B | Cost of Goods Sold | $130,000 |
| C = A - B | Gross Profits | $60,000 |
| D | Operating expense | $20,000 |
| E | Other Income | $10,000 |
| F = C - D + E | Net Income | $50,000 |
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