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A company shows the following balances: Cost of goods sold$217,000 Income tax expense 33,600 Operating expenses 172,000 Sales 550,000 Sales discounts 12,000 Sales returns and
A company shows the following balances:
Cost of goods sold$217,000
Income tax expense 33,600
Operating expenses 172,000
Sales 550,000
Sales discounts 12,000
Sales returns and allowances 37,000
What is the gross profit margin?
Question 4 options:
1)
56.7%.
2)
34.3%.
3)
43.3%.
4)
39.5%.
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