Question: Please provide the answer to this general accounting question using the right approach. The following information is taken from the financial statements of a company

Please provide the answer to this general accounting question using the right approach.

The following information is taken from the financial statements of a company for the current year: Current assets = $350,000 Total assets = $750,000 Cost of goods sold = $500,000 Gross profit = $250,000 Net income = $100,000 What is the gross profit percentage for the current year (rounded to the nearest whole percent)

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