A company has net sales of $755,700 and a cost of goods sold of $545,700. Its net income is $18,410. The company's gross margin and operating expenses, respectively, are: a. $228,880 and $527,290. b. $210,000 and $228,880. c. $736,820 and $191,590. d. $527,290 and $228,880. e. $210,000 and $191,590.

A company has net sales of $755,700 and a cost of goods sold of $545,700. Its net income is $18,410. The company's gross margin and operating expenses, respectively, are: a. $228,880 and $527,290. b. $210,000 and $228,880. c. $736,820 and $191,590. d. $527,290 and $228,880. e. $210,000 and $191,590.

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter5: The Income Statement And The Statement Of Cash Flows

Section: Chapter Questions

Problem 2MC: The following information is available for Cooke Company for the current year: The gross margin is...

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