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CP 133 The following information is taken from the records of Black Spruce Co. Ltd.: 2019 2018 2017 Sales $252 $141 $120 Gross profit 63

CP 133 The following information is taken from the records of Black Spruce Co. Ltd.:

2019 2018 2017

Sales $252 $141 $120

Gross profit 63 48 54

Net income 12 5 15

Required: Analyze the gross profit and net profit ratios using the above data. Comment on trends you observe.

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