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A Company Reports the Following Amounts at the End of the Year

question 81

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A company reports the following amounts at the end of the year:  Sales revenue $300,000 Cost of goods sold 225,000 Net income 50,000\begin{array}{lr}\text { Sales revenue } & \$ 300,000 \\\text { Cost of goods sold } & 225,000 \\\text { Net income } & 50,000\end{array} Compute the company's gross profit ratio.

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