Examlex
Use the following information to determine the gross margin for Pacific States Manufacturing for the year just ended (all amounts are in thousands of dollars):
GAAP
Generally Accepted Accounting Principles, a common set of accounting rules and standards used in the United States for financial reporting.
Detachable Warrants
Warrants issued with another security that can be separated from the security and sold independently.
Convertible Debt
A type of debt instrument that can be converted into a specified number of shares of the issuing company's stock at certain times during its life, usually at the discretion of the debt holder.
Common Stock
Equity securities that represent ownership in a corporation, providing voting rights and potentially dividends to shareholders.
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