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The income statement of Jane Corporation for the years 2018 and 2019 showed the following information 2019 2018 Sales $99,000 $75,000 Cost of Goods
The income statement of Jane Corporation for the years 2018 and 2019 showed the following information 2019 2018 Sales $99,000 $75,000 Cost of Goods Sold $73,000 $46,000 Gross Profit $26,000 $29,000 a) Calculate the gross profit margins for both years. Do not enter dollar signs or commas in the input boxes. Round the gross profit margin to 2 decimal places. 2019 Gross Profit Margin 2018 % b) In which year does Jane Coporation have a better gross profit margin? Year: Next page C
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Principles of Financial Accounting
Authors: Belverd E. Needles, Marian Powers
12th edition
978-1133940562, 1133940560, 978-1285608464, 1285608461, 1133939287, 978-0357693605, 978-1285607047, 128560704X, 978-1133939283
