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Please use the income statement information of BobCat Inc. to answer the question: BobCat Inc....

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Accounting

Please use the income statement information of BobCat Inc. to answer the question: BobCat Inc. Income Statement For the Year Ended December 31, 2015 Net Sales $500 Cost of Goods Sold $280 Gross Profit $220 Operating Expenses $120 Net Income $ 100 Using vertical analysis, what is the net income margin (or profit margin)? Put differently: what percent is assigned to net income as a percentage of net sales?

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