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Income Statement Analysis: Item Amount Sales Revenue $2,000,000 Cost of Goods Sold $800,000 Gross Profit $1,200,000 Operating Expenses $500,000 Net Income $700,000 Analyze the income

Income Statement Analysis:

ItemAmount
Sales Revenue$2,000,000
Cost of Goods Sold$800,000
Gross Profit$1,200,000
Operating Expenses$500,000
Net Income$700,000
Analyze the income statement and discuss the company's operational efficiency.                  

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