Gabalon Retail reported the following for the past two fiscal years: _______________________________20142013 Net sales..............................$950,000.........$800,000 Cost of goods

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Gabalon Retail reported the following for the past two fiscal years:

_______________________________20142013

Net sales..............................$950,000.........$800,000

Cost of goods sold....................600,000...........500,000

Profit.....................................70,000............65,000

(a) Calculate the gross profit margin and profit margin for both years.

(b) Comment on any changes in profitability.

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Accounting Principles Part 1

ISBN: 978-1118306789

6th Canadian edition

Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Kinnear, Joan E. Barlow

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Question Posted: Mar 15, 2017 11:13 AM

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Gabalon Retail reported the following for the past two fiscal years: _______________________________20142013 Net sales..............................$950,000.........$800,000 Cost of goods

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a 2014 Gross profit margin 3684 950000 600000 950000 Profit mar...View the full answer

Accounting Principles Part 1

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