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How do you solve for profit margin and how do you get the net income Calculate the gross prot rate and the prot margin. (Round

How do you solve for profit margin and how do you get the net income

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Calculate the gross prot rate and the prot margin. (Round answers to 1 decimal place, as. 15.2%.) Income Statement For the Year Ended June 30, 2022 V (amounts in millions) | Cost of Goods Sold 3125 i l Gross Prot V 3125 Operating Expenses V l Salaries and Wages Expense $ I 460 n 839 n 114 n | Advertising Expense Depreciation Expense I Research and Development Expense Rent Expense 105 E Total Operating Expenses 1,668 i Income From Operations 1457 Other Expenses and Losses Interest Expense 16 1 Loss on Disposal of Plant Assets 4:. 0' 207 i Income Before Income Taxes V 1250 H Income Tax Expense 425 i i Net Income / (Loss) $ 825

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