Family Home & Security Incorporated sells padlocks. It reported an increase in net sales from...

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Accounting

Family Home & Security Incorporated sells padlocks. It reported an increase in net sales from $4.2 billion in 2017 to $4.5 billion in 2018, and an increase in gross profit from $1.2 billion in 2017 to $1.4 billion in 2018.
Calculate each years gross profit percentage. (Round your answers to 1 decimal place.)
The change in gross profit represents:

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