What is the gross profit percentage for each year? A technology company reported net sales of$6.2 billion in 2019 and $6.8 billion in 2020.The gross profit for 2019 was $2.4 billion,and for 2020, it was $2.9 billion.What is the gross profit percentage for eachyear?A) 37.50% (2019), 42.65% (2020)B) 38.71% (2019), 41.80% (2020)C) 39.34% (2019), 42.65% (2020)D) 36.20% (2019), 40.98% (2020)

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Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter12: Fainancial Statement Analysis

Section: Chapter Questions

Problem 54CE

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