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Coleman, Inc. provides the following data from its income statement for 2017: Net Sales $500,000 Cost of Goods Sold (200,000) Gross Profit $300,000 Calculate the

Coleman, Inc. provides the following data from its income statement for 2017:

Net Sales

$500,000

Cost of Goods Sold

(200,000)

Gross Profit

$300,000

Calculate the gross profit percentage. (Round your answer to two decimal places.)

A.40.00%

B.100.00%

C.60.00%

D.150.00%

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