Answered: Financial information is presented…

Financial information is presented below: Operating expenses $ 35000 Sales returns and 9000 allowances Sales discounts 3000 Sales revenue 156000 Cost of goods sold 92000 Gross profit would be

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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Question

Financial information is presented below:
Operating expenses
$35000
Sales returns and
9000
allowances
Sales discounts
3000
Sales revenue
156000
Cost of goods sold
92000
Gross profit would be
O $52000.
O $55000.
O $61000.
O $64000.

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