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Financial Statement Analysis

1.The gross profit on the sale of a pair of shoes is 39%,if expenses are 25% of the selling price and the cost price is $17.95, what is the selling price and the gross profit in dollars?

2.If expenses are $175.00 and profit is $120.00 and the selling price in$495.00, what is the cost and what percentage is the profit and what percentage are expenses of the cost?

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Hi there,
<br>1. The selling price would be $25
<br>The gross profit in ...

Solution Summary

This question involves the fundamentals of accounting