Last month, Korey’s Comics had $4,350 in net sales with a gross profit of $3,320 and a net income of $1,850. Calculate Korey’s gross profit margin.

Gross profit margin is gross profit divided by net sales, multiplied by 100. Using Korey’s figures: $3,320 ÷ $4,350 × 100 ≈ 76.3%. The correct choice is 76.3%; net income is not used in this calculation.

AI-written and checked against the verified answer.