Ziehart Pharmaceuticals reported Net Sales of $178,000 and Cost of Goods Sold of $58,000. Candy Electronics Corp.

Question:

Ziehart Pharmaceuticals reported Net Sales of $178,000 and Cost of Goods Sold of $58,000. Candy Electronics Corp. reported Net Sales of $36,000 and Cost of Goods Sold of $26,200. Calculate the gross profit percentage for both companies (rounded to one decimal place). Which company has a greater proportion of its sales available to cover expenses other than cost of goods sold?

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