Knowles & Foreman Company took the following data from its income statement at the end of the current year: 
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What was gross margin for the year?
Definitions:
Differentiating
The process of making a product or service stand out from competitors in the market by emphasizing unique features or benefits.
White Space
Areas of potential opportunity where a company can innovate or market in ways not currently being exploited, often leading to new products or services.
Niche Markets
Segments of a larger market defined by their unique preferences, needs, or identity, often overlooked by larger competitors.
Intangible Assets
Non-physical assets such as patents, copyrights, trademarks, and brand reputation that have economic value to a business.
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