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CP 13-3 The following information is taken from the records of Black Spruce Co. Ltd.: Sales Gross profit Net income 2019 2018 2017 $252 $141

CP 13-3 The following information is taken from the records of Black Spruce Co. Ltd.: Sales Gross profit Net income 2019 2018 2017 $252 $141 $120 63 48 54 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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