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A company had $579,000 in net sales, net income of $129,000, sales discounts of $12,000, sales returns and allowances of $9,000, and operating expense of

A company had $579,000 in net sales, net income of $129,000, sales discounts of $12,000, sales returns and allowances of $9,000, and operating expense of $130,000. The company would report Gross Profit of $259,000. T or F

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