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2. Set up a skeletal Profit & Loss Statement that shows the following figures as dollars and a percentage: Net Profit: $22,500 Net Profit %:

2. Set up a skeletal Profit & Loss Statement that shows the following figures as dollars and a percentage: Net Profit: $22,500 Net Profit %: 8% COGS %: 35% B) If Customer Returns & Allowances were 81,250, what were Gross Sales? Please show work!

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