esther has a small store. last month, she purchased merchandise costing p75,000.00, for which she paid freight of p7,500.00. she sold 60% of the merchandise for p68,000.00, after spending for various expenses totalling p13,000.00. she also paid p2,000.00 for interest on money she borrowed for her store. a. how much was her cost of sales? b. how much gross profit did she make? c. how much operating profit did she make? d. what was her net profit?
esther has a small store. last month, she purchased merchandise costing p75,000.00, for which she paid freight of p7,500.00. she sold 60% of the merchandise for p68,000.00, after spending for various expenses totalling p13,000.00. she also paid p2,000.00 for interest on money she borrowed for her store. a. how much was her cost of sales? b. how much gross profit did she make? c. how much operating profit did she make? d. what was her net profit?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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esther has a small store. last month, she purchased merchandise costing p75,000.00, for which she paid freight of p7,500.00. she sold 60% of the merchandise for p68,000.00, after spending for various expenses totalling p13,000.00. she also paid p2,000.00 for interest on money she borrowed for her store. a. how much was her cost of sales? b. how much gross profit did she make? c. how much operating profit did she make? d. what was her net profit?
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