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Business, 26.10.2021 15:10 jaidxxxz

The following data were provided by Mystery Incorporated for the year ended December 31: Cost of Goods Sold $ 175,000
Income Tax Expense 20,700
Merchandise Sales (gross revenue) for Cash 260,000
Merchandise Sales (gross revenue) on Credit 46,000
Office Expenses 20,000
Sales Returns and Allowances 7,650
Salaries and Wages Expense 44,200
a. What was the amount of gross profit?
b. What was the gross profit percentage? (Round your percentage to 1 decimal place.)

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