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Review of the financial statements revealed the following for Blossom Inc.: sales $1254000, net income...

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Accounting

Review of the financial statements revealed the following for Blossom Inc.: sales $1254000, net income $42600, total assets $686000, long-term debt $750000, interest expense $76800 and cost of goods sold $790020. What is the Hyde's gross profit margin closest to?
63%
37%
54%
3%
image

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