Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN: 9781337788281
Author: James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher: Cengage Learning
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Provide answer general accounting question

The following data is from Baker Company's income
statement:
•
•
•
•
Revenue: $80,000
Cost of goods sold: ($32,000)
Operating expenses: ($28,000)
Net income: $20,000
Calculate the gross margin percentage.
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Transcribed Image Text:The following data is from Baker Company's income statement: • • • • Revenue: $80,000 Cost of goods sold: ($32,000) Operating expenses: ($28,000) Net income: $20,000 Calculate the gross margin percentage.
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