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Calculate the gross profit margins for both years

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Reference no: EM133142961

Question - The income statement of Jane Restaurant Inc. for the years 2019 and 2020 showed the following gross profit calculation.

 

2020

2019

Sales Revenue

$94,000

$67,000

Cost of Goods Sold

$72,000

$54,000

Gross Profit

$22,000

$13,000

Required - Calculate the gross profit margins for both years.

Reference no: EM133142961

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