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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:
- 100 percent
- 31 percent
- 12 percent
- 10.8 percent
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