Problem

Component PercentagesMoon, Inc., had the following income statement figures:Sales$560,000C...

Component Percentages

Moon, Inc., had the following income statement figures:

Sales

$560,000

Cost of sales

(340,000 )

Gross margin

$220,000

Operating expenses

(160,000 )

Net income

$ 60,000

Calculate component percentages for this information.

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