Century Pacific recorded its sales of P62,000,500; income tax of P1,880,000; operating expenses of P9,000,000; cost of goods sold of P37,200,000; and interest expense of P800,000, accumulated depreciation of P2,000,000. What are the firm's gross profit and net income? Show your solution and upload your answer.

Century Pacific recorded its sales of P62,000,500; income tax of P1,880,000; operating expenses of P9,000,000; cost of goods sold of P37,200,000; and interest expense of P800,000, accumulated depreciation of P2,000,000. What are the firm's gross profit and net income? Show your solution and upload your answer.

Intermediate Financial Management (MindTap Course List)

13th Edition

ISBN:9781337395083

Author:Eugene F. Brigham, Phillip R. Daves

Publisher:Eugene F. Brigham, Phillip R. Daves

Chapter6: Accounting For Financial Management

Section: Chapter Questions

Problem 3P

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Century Pacific recorded its sales of P62,000,500; income tax of P1,880,000; operating expenses of
P9,000,000; cost of goods sold of P37,200,000; and interest expense of P800,000, accumulated
depreciation of P2,000,000. What are the firm's gross profit and net income?
Show your solution and upload your answer.

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