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calculate the gross profit %! thank you :) Required information CP6-5 (Algo) Preparing a Multistep Income Statement and Computing the Gross Profit Percentage [LO 6-
calculate the gross profit %! thank you :) Required information CP6-5 (Algo) Preparing a Multistep Income Statement and Computing the Gross Profit Percentage [LO 6- 6) [The following information applies to the questions displayed below) Psymon Company, Incorporated, sells construction equipment. The annual fiscal period ends on December 31. The following adjusted trial balance was created from the general ledger accounts on December 31: Account Titles Debits Credits Cash $ 46,220 Accounts Receivable 19,600 Inventory 71,000 Property and Equipment 54,000 Accumulated Depreciation 522,700 Accounts Payable 32,800 Common Stock 98,00 Retained Earnings, January 1 12,400 Sales Revenue 183,500 Cost of Goods Sold 107,600 Salaries and Wages Expense 18,600 office Expense 19,600 Interest Expense 2,400 Income Tax Expense 10,680 Totals $ 349,700 $ 349,700 CP6-5 (Algo) Part 2 2. Compute the gross profit percentage. (Round your answer to 1 decimal place.) Gross Profit Percentage %
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