Biology Forums - Study Force

The following financial statement items are shown for J&T Manufacturing.

Net sales	$840,000
Cost of goods sold	360,000
Insurance expense	28,000
Total operating expenses	120,000
Net income	56,000

Calculate the common-size percentage for gross margin.

▸ 57.1%

▸ 0.8%

▸ 42.8%

▸ 11.6%

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