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Determine how much is the gross profit margin

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Reference no: EM132598588

Given below are account balances for Charlie Company:

Gross sales, $98,000

Sales returns and allowances, $7,000

Selling expenses, $12,000

Cost of goods sold, $40,000

Interest expense, $3,000

Question 1: How much is the gross profit margin?

Reference no: EM132598588

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