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Company X has total revenue of $2,000,000 and a gross profit margin of 60%. What are...

Company X has total revenue of $2,000,000 and a gross profit margin of 60%.

What are the gross profits?

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Answer #1

Gross profit margin = Gross Profit/Total revenue

60% = Gross profit/$2,000,000

Gross profit = $2,000,000 * 60% = $1,200,000

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