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Question 9 2 pts Please use the following numbers to calculate the firm's Gross Profit Margin: Balance Sheet (2019) Balance Sheet (2020) Income Statement (2019-2020)

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Question 9 2 pts Please use the following numbers to calculate the firm's Gross Profit Margin: Balance Sheet (2019) Balance Sheet (2020) Income Statement (2019-2020) Current Assets: 7,000 Total Assets: 15,000 Current Assets: 14,000 Total Assets: 25,000 Sales Revenue: 15,000 Net Sales: 10,000 Current Liabilities: 4,000 Gross Profit: 5,000 Total Liabilities: 4,500 Total Owners' Equity: 10,500 Current Liabilities: 8,000 Total Liabilities: 9,000 Total Owners' Equity: 16,000 Operating Income: 2,000 Net Profit (Income): 1,000 0.33 or 33% .20 or 20% .13 or 13% 0.5 or 50%

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