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The following are the income statements for Ace and Diamond Companies. Ace Diamond Revenue $ 70,000 $ 76,000 Cost of goods sold 49,000 45,600 Gross

The following are the income statements for Ace and Diamond Companies. Ace Diamond Revenue $ 70,000 $ 76,000 Cost of goods sold 49,000 45,600 Gross margin 21,000 30,400 Operating expenses 9,500 12,500 Net income $ 11,500 17,900 What are the net income percentages for the above companies?

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