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Determining gross profit During the current year, merchandise is sold for $ 2 3 , 6 8 0 , 0 0 0 . The cost

Determining gross profit
During the current year, merchandise is sold for $23,680,000. The cost of the goods sold is $13,024,000.
a. What is the amount of the gross profit?
$
b. Compute the gross profit percentage (gross profit divided by sales).
95
c. Will the income statement always report an operating income?
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