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Calculate the gross profit margins for both years

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Reference no: EM133158532

Question - The income statement of Ellen Corporation for the years 2018 and 2019 showed the following gross profit calculation.

 

2019

2018

Sales Revenue

$95,000

$72,000

Cost of Goods Sold

$69,000

$51,000

Gross Profit

$26,000

$21,000

Required - Calculate the gross profit margins for both years.

Reference no: EM133158532

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