A company's net sales are $787,030, its costs of goods sold are $439,160, and its net income is $106,280. Its gross margin ratio equals:

Gross margin ratio = 46.57%

Explanation:

Gross margin is also known as gross profit margin ratio, and it is a measure of profitability. It compares a company's gross margin to its revenue and shows how much profit is made after the cost of goods sold is paid for.

the formula for calculating gross margin is as follows:

where:

Total revenue = net sales = 787,030

cost of goods sold = $439,160

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