Solution-Compute the Gross profit margin and Net profit

Question - Use the income statement below for Staples, Inc. for the year ended December 31, 2019 to compute and insert the following ratios

1. Gross profit margin:

2. Net profit margin:

STAPLES, INC. AND SUBSIDIARIES Consolidated Statement of Income for December 31, 2019 (in thousands)
Sales	$19,372,682
Cost of goods sold and occupancy costs	13,822,011
Gross profit	5,550,671
Total operating expenses	4,002,422
Operating income	1,548,249
Other non- operating income (expense):
Interest income	46,726
Interest expense	(28,335)
Miscellaneous expense	(2,158)
Income before income taxes	1,564,482
Income tax expense	560,416
Net income	$1,004,066

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Compute the Gross profit margin and Net profit margin : Use the income statement below for Staples, Inc. for the year ended December 31, 2019 to compute the Gross profit margin and Net profit margin

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