Asked by Ariana Centeno on Jun 20, 2024
Verified
Warm Winters Linen, Inc. had net sales of $350,000 and net income of $30,000. Compute the relationship of net income to net sales. Express your answer as a percentage. (Round answer accurate to two decimal places.)
Net Income
The total profit of a company after all expenses and taxes have been deducted from revenue.
Net Sales
The revenues from a company's primary activities after deducting returns, allowances, and discounts.
- Comprehend and utilize the formula to determine the correlation between net income and net sales.
Verified Answer
GW
Learning Objectives
- Comprehend and utilize the formula to determine the correlation between net income and net sales.