Question
[The following information applies to the questions displayed below.] The following information is taken from the financial statements of a company for the current year:
[The following information applies to the questions displayed below.] The following information is taken from the financial statements of a company for the current year: Current assets $410,000 Total assets 905,000 Cost of good sold 665,000 Gross Profit 215,000 Net income 135,000 What is the gross profit percentage for the current year (rounded to the nearest whole percent)?
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Contemporary Auditing real issues and cases
Authors: Michael C. Knapp
9th edition
978-1133839552, 113383955X, 1133187897, 978-1133710424, 1133710425, 978-1133187899
