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Current Attempt in Progress Windsor, Inc. reported the following in its 2022 and 2021 income statements. 2022 2021 Net sales

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Answer #1
2022 2021
Gross profit rate = Gross Profit/Net sales

(142,000-85,200)/142,000

= 40%

(112,000-67,200) /112,000

= 40%

Profit Margin = Net income/Net sales

(9780/142,000)

= 6.9%

(21040/112,000)

= 18.8%

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