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After the initial year of operations, the Beige Company had the following data in its operating results: Net profit is P750,000

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After the initial year of operations, the Beige Company had the following data in its operating results: Net profit is P750,000. Selling expenses are 12.5% of sales and also equal to 25% of cost of goods sold. Administrative expenses and other expenses are 17.5% and 5% of sales, respectively. What is Beige's gross profit for the year?