Computing the gross profit percentage edible art earned net, Finance Basics

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Computing the gross profit percentage edible art earned net

Question: Computing the gross profit percentage Edible Art earned net sales revenue of $63,000,000 in 2016. Cost of goods sold was $40,950,000, and net income reached $8,000,000, the company's highest ever. Compute the company's gross profit percentage for 2016.

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