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Danby, Inc. provides the following data from its income statement for 2018: Net Sales $540,000 Cost of Goods Sold (190,000) Gross Profit $350,000 Calculate the

Danby, Inc. provides the following data from its income statement for 2018:

Net Sales	$540,000
Cost of Goods Sold	(190,000)
Gross Profit	$350,000

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

64.81%

18.42%

35.19%

100.00%

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