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Kolby Enterprises reports the following information on its income statement: Calculate Kolby's gross profit percentage and return on sales ratio. Kolby is planning to add
Kolby Enterprises reports the following information on its income statement: Calculate Kolby's gross profit percentage and return on sales ratio. Kolby is planning to add a new product and expects net sales to be $45,000 and cost of goods to be $38,000. No other income or expenses are expected to change. How will this affect Kolby's gross profit percentage and return on sales ratio? (Round all answers to 1 decimal place.) Gross Profit Percentage Return on Sales IF NEW PRODUCT IS MADE Gross Profit Percentage Return on Sales
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