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3. This year for the Fall period, your entire department was estimated to produce a gross margin of $619,750 because the expenses were estimated at
3. This year for the Fall period, your entire department was estimated to produce a gross margin of $619,750 because the expenses were estimated at $562500. The projected net profit for the period was set at 4.0%. Set up a skeletal profit loss statement showing all of the figures in dollars and percentages. (10 points)
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