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Find how much is the gross profit margin

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Reference no: EM132594106

Given below are account balances for Charlie Company:

Gross sales, $110,000

Sales returns and allowances, $7,000

Selling expenses, $12,000

Cost of goods sold, $40,000

Interest expense, $3,000

Question 1: How much is the gross profit margin? (enter your percentage as a decimal rounded to two decimal places. Example - enter 46% as .46)

Reference no: EM132594106

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