Brownie Bakery eaned net sales revenue of $68,000,000 in 2018. Cost of goods sold was $42,840,000, and net income reached $10,000,000, the company's highest ever. Compute the company's gross profit percentage for 2018.

37%

Explanation:

We would calculate the gross profit for the above company as;

Gross profit = Revenue - Cost of goods sold

Given that;

Revenue = $68,000,000

Cost of goods sold = 42,840,000

Gross profit?

Therefore,

Gross profit = $68,000,000 - $42,840,000 = $25,160,000

Gross profit percentage will now be computed as;

Gross profit percentage = Gross profit ÷ Revenue

= $25,160,000 ÷ $68,000,000

= 37%

The company's gross profit percentage for 2018 is 37%.

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