last month, koreys comics had $4,350 in net sales with a gross profit of $3,320 and a net income of $1,850…

last month, koreys comics had $4,350 in net sales with a gross profit of $3,320 and a net income of $1,850. calculate koreys net profit margin.\na. 42.5%\nb. 55.7%\nc. 76.3%\nd. 179.5%\nplease select the best answer from the choices provided\no a\no b\no c\no d

last month, koreys comics had $4,350 in net sales with a gross profit of $3,320 and a net income of $1,850. calculate koreys net profit margin.\na. 42.5%\nb. 55.7%\nc. 76.3%\nd. 179.5%\nplease select the best answer from the choices provided\no a\no b\no c\no d

Answer

Explanation:

Step1: Recall net - profit margin formula

Net profit margin = $\frac{\text{Net income}}{\text{Net sales}}\times100%$

Step2: Substitute given values

Net income = $1850$, Net sales = $4350$. So, Net profit margin = $\frac{1850}{4350}\times100%$

Step3: Calculate the result

$\frac{1850}{4350}\times100%\approx0.425\times100% = 42.5%$

Answer:

A. 42.5%