Cushman Company, Inc. had $812,000 in sales, sales discounts of $12,180, sales returns and allowances of $18,270, cost of goods sold of $385,700, and $279,330 in operating expenses. Gross profit equals: a. $116,520. b. $781,550. c. $414,120. d. $395,850. e. $408,030.

Cushman Company, Inc. had $812,000 in sales, sales discounts of $12,180, sales returns and allowances of $18,270, cost of goods sold of $385,700, and $279,330 in operating expenses. Gross profit equals: a. $116,520. b. $781,550. c. $414,120. d. $395,850. e. $408,030.

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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Need answer the question please

Cushman Company, Inc. had $812,000 in sales, sales discounts
of $12,180, sales returns and allowances of $18,270, cost of
goods sold of $385,700, and $279,330 in operating expenses.
Gross profit equals:
a. $116,520.
b. $781,550.
c. $414,120.
d. $395,850.
e. $408,030.

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