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Sweet Sensations Bakery reported net sales revenue of $4,800,000 in 2023. The cost of goods sold was $2,880,000, and the company achieved a net income of $960,000. Calculate Sweet Sensations Bakery's gross profit percentage for 2023.

Sweet Sensations Bakery reported net sales revenue of $4,800,000 in 2023. The cost of goods sold was $2,880,000, and the company achieved a net income of $960,000. Calculate Sweet Sensations Bakery's gross profit percentage for 2023.

Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter5: The Income Statement And The Statement Of Cash Flows
Section: Chapter Questions
Problem 2MC: The following information is available for Cooke Company for the current year: The gross margin is...
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Sweet Sensations Bakery reported net sales revenue of $4,800,000 in 2023. The cost of goods sold was $2,880,000, and the company achieved a net income of $960,000. Calculate Sweet Sensations Bakery's gross profit percentage for 2023.
Transcribed Image Text:Sweet Sensations Bakery reported net sales revenue of $4,800,000 in 2023. The cost of goods sold was $2,880,000, and the company achieved a net income of $960,000. Calculate Sweet Sensations Bakery's gross profit percentage for 2023.
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