Question: 50. Set up a final profit and loss statement using the following figures. Express results in dollar amounts and as a percentage for: (a) Net

50. Set up a final profit and loss statement using the

50. Set up a final profit and loss statement using the following figures. Express results in dollar amounts and as a percentage for: (a) Net profit or loss. (b) Cost of goods sold. (c) Gross margin. (d) Operating expenses. Then, analyze the above figures. Discuss the relationship of expenses to net profi and the size of the gross margin. Suggest strategies to improve profit

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