Cushman Company had $824,000 in sales, sales discounts of $12,360, sales returns and allowances of $18,540, cost of goods sold of $391,400,and $283,455 In operating expenses. Net income equals:Multiple ChoiceO$793,100.O$401,700.O$180,045.$149,145.$118,245.

Here's how to calculate it:Net Sales:Sales - Sales Discounts - Sales Returns and Allowances$824,000…

Answered: Cushman Company had $824,000 in sales,…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Cushman Company had $824,000 in sales, sales discounts of $12,360, sales returns and allowances of $18,540, cost of goods sold of $391,400, and $283,455 In operating expenses. Net income equals: Multiple Choice O $793,100. O $401,700. O $180,045. $149,145. $118,245.