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Question
The following income statement information is for Sadie Company:
| Sales | $175,000 |
| Cost of merchandise sold | 115,000 |
| Gross profit | $ 60,000 |
Using vertical analysis of the income statement for Sadie Company, determine the change in gross profit.
a. 100.0%
b. 66.5%
c. 34.3%
d. 29.4%
Answer
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