Solution-Which is the correct statement about the income

Which is the correct statement about the income statement

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Reference no: EM132681998

Question - Garrit Limited's income statement reported the following for the year ended Dec 31, 2016: Sales revenue 881,000, Cost of goods sold 573,000, Expenses 129,000, Net income 179,000. Which is the correct statement about the income statement?

A) Mark-up on selling price is $573,000.

B) Mark-up on cost is 53.75%.

C) Gross margin percentage is 20.32%.

D) Mark-up on the selling price is $308,000.

Reference no: EM132681998

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Which is the correct statement about the income statement

Reference no: EM132681998

Reference no: EM132681998

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