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QUESTION
After one year of operations, CAMILLE CO. had the following data in its operating results: Net income is $150,000. Selling expense is 12.5% of sales...
After one year of operations, CAMILLE CO. had the following data in its operating results: Net income is $150,000. Selling expense is 12.5% of sales and 25% of cost of sales. General and Administrative expenses and other expenses are 17.5% and 5% of sales, respectively.
What is the amount of gross profit?
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