Aspen Company has sales of $2,000,000, cost of goods sold of $200,000, and selling and administrative costs of $500,000. Aspen Company's gross margin is: A. $1,800,000. B. $1,500,000. C. $1,300,000. D. $1,700,000.
Aspen Company has sales of $2,000,000, cost of goods sold of $200,000, and selling and administrative costs of $500,000. Aspen Company's gross margin is: A. $1,800,000. B. $1,500,000. C. $1,300,000. D. $1,700,000.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Aspen Company has sales of $2,000,000, cost of goods sold of $200,000, and selling
and administrative costs of $500,000. Aspen Company's gross margin is:
A. $1,800,000.
B. $1,500,000.
C. $1,300,000.
D. $1,700,000.
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