What is the gross profit percentage of wolverine world wide

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Problem: Wolverine World Wide Inc. prides itself as being the "world's leading marketer of U.S. branded non-athletic footwear." The following data (in millions) were taken from its annual report for the fiscal year ended January 3, 2009:

Sales of merchandise $ 1,245

Income taxes 39

Cash dividends paid 22

Selling and administrative expense 280

Cost of products sold 690

Interest expense 3

Other revenues 3

Required:

What is the gross profit percentage?

Reference no: EM132420775

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