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Determine the gross profit ratio

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Reference no: EM133179047

Question - Information from Koffee Haus' income statement for 2019 follows:

2019

Sales $5,200,000

Cost of goods sold 2,756,000

Selling expenses 800,000

General and administrative expenses 600,000

Income taxes expense 295,000

Earnings per share $2.97

Required - Determine the gross profit ratio for 2019.

Reference no: EM133179047

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