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The following selected amounts were extracted from financial statements of the Oswald Corporation:
The following selected amounts were extracted from financial statements of the Oswald Corporation:
Year 1 Year 2 Year 3 Year_4
Sales $250,000 240,000 275,000
Cost of Goods Sold 100,000 125,000 135,000
Gross Margin 150,000 115,000 140,000
Assuming a 25% increase in sales in Year 4 and a 10% increase in Cost of Goods Sold -- how much should Gross Margin be in Year 4?
