Review of the financial statements revealed the following for Sandhill Inc.: sales $1251000, net income $48700, total assets $656000, long-term debt $759000, interest expense $67800 and cost of goods sold $788130.What is the Hyde's gross profit margin closest to? 3% 37% 63% 53%

FINANCIAL ACCOUNTING
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Author:Libby
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Chapter1: Financial Statements And Business Decisions
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Review of the financial statements revealed the
following for Sandhill Inc.: sales $1251000, net
income $48700, total assets $656000, long-term
debt $759000, interest expense $67800 and cost
of goods sold $788130. What is the Hyde's gross
profit margin closest to?
3%
37%
63%
53%
Transcribed Image Text:Review of the financial statements revealed the following for Sandhill Inc.: sales $1251000, net income $48700, total assets $656000, long-term debt $759000, interest expense $67800 and cost of goods sold $788130. What is the Hyde's gross profit margin closest to? 3% 37% 63% 53%
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