Jim had a very good quarter at his car lot with net sales reaching just over $456,000. This created a net income of $195,000. If Jim's operating expenses last quarter were $23,000, what was his gross profit margin?a.5.0%b.37.7%c.42.8%d.47.8%

Name: Revolt
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D

Business Income Statements

Jim had a very good quarter at his car lot with net sales reaching just over $456,000. This created a net income of $195,000. If Jim's operating expenses last quarter were $23,000, what was his gross profit margin?a.5.0%b.37.7%c.42.8%d.47.8%

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