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What is the relationship between gross margin and net income? Gross Margin - Merchandise Inventory at the end of the period = Net Income Gross

What is the relationship between gross margin and net income?

Gross Margin - Merchandise Inventory at the end of the period = Net Income
Gross Margin - Selling and Administrative Expenses = Net Income
Gross Margin + Selling and Administrative Expenses = Net income
Sales Revenue x Gross Margin Percentage = Net Income

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