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J Bryant, Ltd. is a local coat retailer. The store's accountant prepared the following income statement for the month ended January 31. Sales revenue $

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J Bryant, Ltd. is a local coat retailer. The store's accountant prepared the following income statement for the month ended January 31. Sales revenue $ 750,000 Cost of goods sold 300,000 Gross margin 450,000 Less operating expenses Selling expense $ 23,560 Administrative expense 49,500 73,060 Net operating income 5 376,940

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