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What is the gross profit margin using the following information? Remember to express it as a % and take it out two decimal places. Year Ended 2021 Sales $25000 Cost of Sales $12000 Gross Profit $13000 Net income $18000 Current assets $22000 Total Liabilities $16000 Stockholders' Equity $30000 Current Liabilities $5000 Type your answer...

What is the gross profit margin using the following information? Remember to express it as a % and take it out two decimal places. Year Ended 2021 Sales $25000 Cost of Sales $12000 Gross Profit $13000 Net income $18000 Current assets $22000 Total Liabilities $16000 Stockholders' Equity $30000 Current Liabilities $5000 Type your answer...

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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What is the gross profit margin using the following information? Remember to express it as a % and take it out two decimal places. Year Ended 2021 Sales $25000 Cost of Sales $12000 Gross Profit $13000 Net income $18000 Current assets $22000 Total Liabilities $16000 Stockholders' Equity $30000 Current Liabilities $5000 Type your answer...
Transcribed Image Text:What is the gross profit margin using the following information? Remember to express it as a % and take it out two decimal places. Year Ended 2021 Sales $25000 Cost of Sales $12000 Gross Profit $13000 Net income $18000 Current assets $22000 Total Liabilities $16000 Stockholders' Equity $30000 Current Liabilities $5000 Type your answer...
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