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5. Nest Inc. has gross sales of $350,000, net sales of $320,000, cost of goods sold of $210,000, selling expenses of $10,000, and nonoperating expenses

5. Nest Inc. has gross sales of $350,000, net sales of $320,000, cost of goods sold of $210,000, selling expenses of $10,000, and nonoperating expenses of $12,000. What is the company's gross profit ratio?

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