Assume that MahetaTech Corporation has sales of 600,000, sales discounts of 15,000, net income of 50,000, and cost of goods sold of 400,000. Gross profit and operating expenses are, respectively: a. 185,000 and 135,000 b. 185,000 and 145,000 c. 200,000 and 150,000 d. 200,000 and 145,000

Assume that MahetaTech Corporation has sales of 600,000, sales discounts of 15,000, net income of 50,000, and cost of goods sold of 400,000. Gross profit and operating expenses are, respectively: a. 185,000 and 135,000 b. 185,000 and 145,000 c. 200,000 and 150,000 d. 200,000 and 145,000

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

Gross profit and operating expenses are

Assume that MahetaTech Corporation has
sales of 600,000, sales discounts of 15,000,
net income of 50,000, and cost of goods sold
of 400,000. Gross profit and operating
expenses are, respectively:
a. 185,000 and 135,000
b. 185,000 and 145,000
c. 200,000 and 150,000
d. 200,000 and 145,000

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