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Which of the statements is true

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Question - During 2020, Star Company's gross profit increased compared to 2019, while its net sales revenue and net income remain unchanged. Which of the following statements is true?

a. Return on Equity will remain unchanged.

b. Gross profit as a percentage of sales will be lower.

c. Cost of goods sold as a percentage of sales will be lower.

d. All of the above statements are true.

e. None of the above statements is true.

Reference no: EM132908291

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