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The following information was taken from Logsden Manufacturing's trial balances as of December 31, 2018, and December 31, 2019. 12/31/2019 12/31/2018 Accounts receivable $13,000 $17,000

The following information was taken from Logsden Manufacturing's trial balances as of December 31, 2018, and December 31, 2019. 12/31/2019 12/31/2018 Accounts receivable $13,000 $17,000 Accounts payable 22,000 15,000 Cost of goods sold 140,000 119,000 Sales 273,000 239,000 Sales returns 12,000 11,000 Retained earnings 47,000 16,000 Dividends 5,000 1,000 Income from operations 28,000 16,000 Net income 21,000 18,000 Required: 1. Calculate the gross profit margin and operating margin percentage for 2019. Enter your answer as percentage, rounded to two decimal places (e.g. .0248563 to 2.49%). 2019 Gross profit margin percentage % Operating margin percentage % 2. Assuming that all of the operating expenses are fixed (or, won't change as sales increase or decrease), what will be the operating margin percentage if sales increase by 25%? Round interim calculations to nearest whole value and final answer to two decimal places. Operating margin percentage %

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