1. Spirit of the Suwannee Music Park, Inc. has the following income statement (in millions):...
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1. Spirit of the Suwannee Music Park, Inc. has the following income statement (in millions): GMC, INC. Income Statement For the Year Ended December 31, 2019 Net Sales $300 Cost of Goods Sold 180 Gross Profit 120 Operating Expenses 45 Net Income $75 Using vertical analysis, what percentage is assigned to Net Profit? Select one: a. Unable to determine from this information b. 62.5% c. 40% d. 25%
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