last year, sally had a gross profit margin of 68% in her hair salon. her gross profit was $32,508.63. how…

last year, sally had a gross profit margin of 68% in her hair salon. her gross profit was $32,508.63. how much did sally make in net sales last year?\na. $16,398.06\nb. $22,105.87\nc. $35,610.25\nd. $47,806.81\nplease select the best answer from the choices provided\no a\no b\no c\no d

last year, sally had a gross profit margin of 68% in her hair salon. her gross profit was $32,508.63. how much did sally make in net sales last year?\na. $16,398.06\nb. $22,105.87\nc. $35,610.25\nd. $47,806.81\nplease select the best answer from the choices provided\no a\no b\no c\no d

Answer

Explanation:

Step1: Recall the gross - profit margin formula

The formula for gross - profit margin is $\text{Gross - Profit Margin}=\frac{\text{Gross Profit}}{\text{Net Sales}}\times100%$. We want to find net sales, and we can re - arrange the formula to $\text{Net Sales}=\frac{\text{Gross Profit}}{\text{Gross - Profit Margin}}\times100$.

Step2: Substitute the given values

Given that the gross - profit margin is $68%$ (or $0.68$ in decimal form) and the gross profit is $$32,508.63$. Then $\text{Net Sales}=\frac{32508.63}{0.68}$.

Step3: Calculate the net sales

$32508.63\div0.68 = 47806.80882\approx47806.81$.

Answer:

D. $$47,806.81$