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20. Refer to the balance sheet and income statement data listed below for a company. Total Operating Expenses $10,000 Sales Discounts Allowances $2,000 Cost of

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20. Refer to the balance sheet and income statement data listed below for a company. Total Operating Expenses $10,000 Sales Discounts Allowances $2,000 Cost of Goods Sold Sales $1,000 $50,000 Sales Returns & $26,000 Based on these data the company's gross profit percentage is: A. 23.4% B. 42.0% c. 44.7% D. 48.0%

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