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Thomas Industries reported the following: Net sales $480,000 Cost of goods sold $330,000 Operating expenses $65,000 Tax rate 50% The gross profit percentage is: (Round

Thomas Industries reported the following: Net sales $480,000 Cost of goods sold $330,000 Operating expenses $65,000 Tax rate 50% The gross profit percentage is: (Round your final answer to the nearest percentage.) 31%. 69% 23%. 34%

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