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What is the gross profit percentage enter your answer as a

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Reference no: EM13588189

The following data were taken from the records of Township Corporation at December 31, 2015:




  Sales revenue $ 85,000
  Gross profit
30,000
  Selling (distribution) expense
7,000
  Administrative expense
?
  Pretax income
13,000
  Income tax rate
35%
  Shares of stock outstanding
2,500

Required:
1.

Prepare a complete multiple-step income statement for the company. (Hint: Rely on the amounts and percentages given to infer missing values.) (Round "Earnings per share" to 2 decimal places.)

2. What is the gross profit percentage? (Enter your answer as a percentage rounded to 1 decimal place (i.e., 0.123 should be entered as 12.3).)

Reference no: EM13588189

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