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Calculate profit margin and gross profit rate

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Reference no: EM133006190

Novak Corp. reported net sales of $ 265,000, cost of goods sold of $ 159,000, operating expenses of $ 58,100, net income of $ 42,400, beginning total assets of $ 523,500, and ending total assets of $ 602,500.

Problem 1: Calculate profit margin and gross profit rate.

Reference no: EM133006190

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