Maligator, Inc. reported Net Sales of $296,000, Cost of Goods Sold of $190,600, Operating Expenses of $57,900, and Income Tax Expense of $12,300. What is Maligator's gross profit margin percentage? (Round your final answer to two decimal places, X.XX%.)
A) 35.61%
B) 11.89%
C) 64.39%
D) 16.05%
A) 35.61%
Explanation: (net sales - cogs)/net sales; ex: ($296,000 - $190,600) / $296,000 = 35.61%
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