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Set up a skeletal statement using the following figures: Net sales $586,800 Gross margin $345,121 Profit 7.8% Set up a skeletal statement format to determine

Set up a skeletal statement using the following figures: Net sales $586,800 Gross margin $345,121 Profit 7.8% Set up a skeletal statement format to determine profit/loss percent: Net sales $696,480 Gross margin 45.5% Expenses $276,434

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