A Corporation reported the following on its annual income statement (in millions) Sales revenue $118,774 Gross profit $72,382 Total expenses $46,634 What did Tully report for cost of goods sold during the year? A) $31.004 million B) $93,026 million C) $25,748 million D) $46,392 million E) None of these are correct.
A Corporation reported the following on its annual income statement (in millions) Sales revenue $118,774 Gross profit $72,382 Total expenses $46,634 What did Tully report for cost of goods sold during the year? A) $31.004 million B) $93,026 million C) $25,748 million D) $46,392 million E) None of these are correct.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
100%
Cost of goods Sold
![A Corporation reported the following on its annual income statement (in millions)
Sales revenue
$118,774
Gross profit
$72,382
Total expenses
$46,634
What did Tully report for cost of goods sold during the year?
A) $31.004 million
B) $93,026 million
C) $25,748 million
D) $46,392 million
E) None of these are correct.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F621b771e-9139-4950-b4a5-9acd2a339439%2Fc54b51ae-e626-451f-9051-12469bd62bab%2Fgz8s6tg_processed.png&w=3840&q=75)
Transcribed Image Text:A Corporation reported the following on its annual income statement (in millions)
Sales revenue
$118,774
Gross profit
$72,382
Total expenses
$46,634
What did Tully report for cost of goods sold during the year?
A) $31.004 million
B) $93,026 million
C) $25,748 million
D) $46,392 million
E) None of these are correct.
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