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From Goodwin Company's income statement of this year, the following information was provided: Line Item...

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Accounting

From Goodwin Company's income statement of this year, the following information was provided: Line Item Description Amount Sales $1,600,000 Cost of goods sold ($880,000) Operating expenses ($480,000) Net Income $240,000 Using vertical analysis, calculate the operating expense as a percent of sales. a. 20% b. 55% c. 45% d. 30%

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