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quick questiong (gross profit rate and profit margin) Sales revenue Sheridan Company $80,000Sky:png,Inc.$$ Sales returns and allowances begin{tabular}{|} hline 6000i hline 74,000 51,800
quick questiong (gross profit rate and profit margin)
Sales revenue Sheridan Company $80,000Sky:png,Inc.$$ Sales returns and allowances \begin{tabular}{|} \hline 6000i \\ \hline 74,000 \\ 51,800 \\ \hline 22200 \\ \hline \end{tabular} Gross profit Operating expenses 13,3208880 28,800 Net income 11,700 Calculate the profit margin and the gross profit rate for each company. (Round answers to 1 decimal place, e.g. 15.5% Step by Step Solution
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