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?
a.
$16,398.06
b.
$22,105.87
c.
$35,610.25
d.
$47,806.81
A business' profit margin is the ratio between the gross profit and net sales. It's ideal for a business to have a profit margin closest to 1. For the given situation, Sally has a gross profit of $32, 508.63 and a profit margin of 68% or 0.68. Thus, we have
