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what's the gross margin? Table 2 Income Statements 2018 2019 2020 2021 Sales $3,346,750 $3,380,550 $3,635,000 $4,240,000 Cost of goods sold $2,510,063 $2,384,000 $2,980,000 $3,680,000

what's the gross margin?

Table 2 Income Statements 2018 2019 2020 2021
Sales $3,346,750 $3,380,550 $3,635,000 $4,240,000
Cost of goods sold $2,510,063 $2,384,000 $2,980,000 $3,680,000
Operating expenses:
Depreciation $105,000 $105,000 $154,500 $159,000
Selling & Administrative Expense $484,288 $404,300 $297,550 $303,320
Operating Income $247,400 $487,250 $202,950 $97,680
Interest Expense $0 $0 $43,000 $67,000
Pre-tax Profit $247,400 $487,250 $159,950 $30,680
Income Tax Expense (Benefit) $98,960 $194,900 $63,980 $12,272
Net Income $148,440 $292,350 $95,970 $18,408

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