Question: please explain answer Using the information below, calculate the Gross Profit Percentage ratio. Account Name Sales Revenue Sales Discounts Accounts Receivable Sales Returns and Allowances

please explain answer

Using the information below, calculate the Gross Profit Percentage ratio. Account Name Sales Revenue Sales Discounts Accounts Receivable Sales Returns and Allowances Cost of Goods Sold Allowance for Doubtful Accounts Amount $150,000 $18,000 $31,000 $7,000 $61,000 $2,000 0.512 0.427 0.568 0.473 0.712 0.593

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