1. Corp A reported the following on its 2020 Income Statement (millions):Revenue$145,685Gross Profit$78,288SG&A Expense $34,980What did Corp A report for cost of goods sold during 2020?What was the gross profit %?2. Corp A reports a net loss for 2020 of $780 million, retained earnings at the end ofthe year of $17,893million, and dividends during the year of $1,752million.What was Corp A's retained earnings at the start of 2020?

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1. Corp A reported the following on its 2020 Income Statement (millions): Revenue $145,685 Gross Profit $78,288 SG&A Expense $34,980 What did Corp A report for cost of goods sold during 2020? What was the gross profit %?

1. Corp A reported the following on its 2020 Income Statement (millions): Revenue $145,685 Gross Profit $78,288 SG&A Expense $34,980 What did Corp A report for cost of goods sold during 2020? What was the gross profit %?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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please explain the result of income statement that provided in image below
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NEED ANSWER WITH EXPLANATION
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