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Given the following data: sales $1,500,000;gross profit $640,000;net income after tax $40,000 and income tax expense $35,000.What is the common-size percentage for operating expenses?
Managing
The process of planning, organizing, leading, and controlling resources to achieve organizational objectives efficiently and effectively.
Calendar-year
A one-year period starting on January 1 and ending on December 31, used as the fiscal year by many companies.
Interest Income
Income earned on various forms of investments like savings accounts, certificates of deposit, bonds, and loans.
Credit Sales
Sales made by a business where payment is deferred, allowing the purchaser to pay at a later date.
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