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Question - Alexander Mahone had total Cost of Goods Sold amounting to P21,601.65. He had a gross profit rate of 65%. Selling expenses are 15% of Net Sales. G&A expenses amounted to P15,477.15.
1. How much is Mahone's Net Sales?
2. How much are Mahone's Operating Expenses?
3. How much is Mahone's Net Income/(Loss)?
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