A company has the following information for the fiscal year: Sales Revenue: $4,800,000 Cost of Goods Sold: $2,880,000 Operating Expenses: $720,000 Interest Expense: $96,000 What is the gross margin? a. $1,920,000 b. $1,200,000 c. $1,104,000 d. $1,824,000

A company has the following information for the fiscal year: Sales Revenue: $4,800,000 Cost of Goods Sold: $2,880,000 Operating Expenses: $720,000 Interest Expense: $96,000 What is the gross margin? a. $1,920,000 b. $1,200,000 c. $1,104,000 d. $1,824,000

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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Question

Get correct answer with accounting

A company has the following information for the fiscal year:
Sales Revenue: $4,800,000 Cost of Goods Sold: $2,880,000 Operating
Expenses: $720,000 Interest Expense: $96,000
What is the gross margin?
a. $1,920,000
b. $1,200,000
c. $1,104,000
d. $1,824,000

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