Answered: ABC Store reports annual revenue of…

ABC Store reports annual revenue of $85,000, cost of goods sold of $51,000, and operating expenses of $12,000. What is the gross profit? a. $22,000 b. $34,000 c. $51,000 d. $85,000

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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I need this question answer general Accounting

ABC Store reports annual revenue of $85,000, cost of
goods sold of $51,000, and operating expenses of
$12,000. What is the gross profit?
a. $22,000
b. $34,000
c. $51,000
d. $85,000

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