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To locate the fair value of a common stock, we will need to ascertain the net profit generated by a firm.Dissecting income statement provides us the actions required to locate net profit.One of the critical part of income statement is gross profit.What's gross profit? Gross profit is the profit obtained after subtracting all variable costs with revenue.For a retail company, it's the difference between the selling price of a product and the price the company bought the merchandise...