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Financial information is presented below: Operating expenses 28,000 Sales returns and allowances 7,000 Sales discounts 3,000 Sales revenue 150,000 Cost of goods sold 91,000 What

Financial information is presented below:

Operating expenses 28,000

Sales returns and allowances 7,000

Sales discounts 3,000

Sales revenue 150,000

Cost of goods sold 91,000 What is the net income? What is the net sales? What is the profit margin ratio? Please explain how to find each. Thank you

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