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Express net income as a common-size percentage using the following data. Sales - $45,000; cost of goods sold - $29,340; gross profit from sales -

Express net income as a common-size percentage using the following data. Sales - $45,000; cost of goods sold - $29,340; gross profit from sales - $15,660; operating expenses - $10,800; net income - $4,860.

Question options:

  1. 100 percent
  2. 31 percent
  3. 12 percent
  4. 10.8 percent

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