What is the gross profit margin

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Question - A company shows the following balances:

Cost of goods sold $217,000

Income tax expense 33,600

Operating expenses 172,000

Sales 550,000

Sales discounts 12,000

Sales returns and allowances 37,000

What is the gross profit margin?

1) 56.7%.

2) 34.3%.

3) 43.3%.

4) 39.5%.

Reference no: EM132429446

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