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16. Blanco, Inc. has the following income statement in millions): BLANCO, INC. Income Statement For the Year Ended December 31, 2020 Net Sales $200 Cost

16. Blanco, Inc. has the following income statement in millions): BLANCO, INC. Income Statement For the Year Ended December 31, 2020 Net Sales $200 Cost of Goods Sold 120 Gross Profit 80 Operating Expenses 44 Net Income $_36

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