P&P Skateboards had net sales of $2,600,000, its cost of goods sold was $1,700,000, and its...

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P&P Skateboards had net sales of $2,600,000, its cost of goods sold was $1,700,000, and its net income was $800,000. Its gross margin ratio equals: OOOOO 20 47%. 35%. 31%. 65%. 153%. P&P Skateboards had net sales of $2,600,000, its cost of goods sold was $1,700,000, and its net income was $800,000. Its gross margin ratio equals: OOOOO 20 47%. 35%. 31%. 65%. 153%.