Financial information is presented below: Operating expenses $ 55000 Sales returns and allowances 3000 Sales discounts 9000 Sales revenue 200000 Cost of goods sold 89000 The amount of net sales on the income statement would be a.) $188000. b.) $191000. c.) $197000. d.) $200000.

Q: A company has the following selected account balances: Sales Sales Discounts Sales Returns and…

A: First step is to determine the Net sales   Sales $ 250,000 Less Sales Discounts ($1,500) Less Sales…

Q: 2. Calculate (a) the maintained markup percent and (b) the gross margin percent with the following…

A: Gross margin is the sales revenue over and above all the direct expenses in the business. Markup is…

Q: Gross profit would be

A: The gross profit is the profit which is calculated by subtracting the cost of goods sold from the…

Q: Calculate the Gross Profit Percentage using the following informat Net Sales Cost of Goods Sold…

A: Introduction:- Gross profit is calculated by deduction of the cost of goods sold (COGS) from total…

Q: uring the current year, merchandise is sold for $970,000. The cost of the merchandise sold is…

A: The following formulas used as follows under:- Gross Profit =Total Sales - Cost of Goods Sold Gross…

Q: During the current year, merchandise is sold for $206,200 cash and $430,300 on account. The cost of…

A: The Gross Profit is figured by deducting the Cost of goods sold (COGS) from Total Sales. It is also…

Q: Need answer

A: Step 1: Introduction to the Income Statement ItemsA business primarily reports its sales revenue,…

Q: Operating expenses $ 59000 Sales returns and allowances 3000 Sales discounts 5000 Sales revenue…

A: Net sales = Sales revenue - Sales discounts - Sales returns and allowances Net sales = 198000 - 5000…

Q: Financial information is presented below: Operating Expenses $91500 Sales Returns and 18900…

A: The net sales as the name suggests is the amount of sales which has been after all the deductions…

Q: During the current year, merchandise is sold for $18,300 cash and $295,700 on account. The coset of…

A: Gross profit: Gross profit can be defined as the profit generated from deducting the cost of goods…

Q: Please complete the balance sheet using the ratios that have been provided below.

A: Information Provided: Sales = $4,000,000 Gross profit margin = 25% Days sales outstanding = 45 days…

Q: Financial information is presented below: Operating Expenses Sales Returns and Allowances Sales…

A: INCOME STATEMENTIncome Statement is one of the Important Financial Statements of the Company. Income…

Q: Ameena traders have reported annual sales of OMR 15000, Carriage inwards of OMR 1000, Sales discount…

A: Net sales refer to the amount of sales after deducting the discount and returns from the gross…

Q: What is GP?

A: Detailed explanation: Gross profit is the difference between the revenue from both sales on cash and…

Q: During the current year, merchandise is sold for $54,400 cash and for $81,400 on account. The cost…

A: The difference between the net sales and cost of goods is called Gross profit. Total sales are…

Q: Financial information is presented below: Operating Expenses $ 90000 Sales Returns and Allowances…

A: Gross profit is the earnings from the net revenue generated by the company after meeting the costs…

Q: Financial information is presented below: Operating expenses $ 51000 Sales returns and allowances…

A: This question is related to the final account. The concept of the final account is defined as the…

Q: Sunland Inc. reports the following: Inventory Accounts Payable End of Year Beginning of Year $24400…

A: The objective of the question is to calculate the amount of cash paid to suppliers by Sunland Inc.…

Q: Want answer

A: Gross Profit: Gross profit is the income after production costs have been subtracted from revenue…

Q: Financial information is presented below: Operating expenses $ 60000 Sales returns and allowances…

A: Gross Profit is calculated by deducting cost of goods sold from the net sales Gross Profit = Net…

Q: Gross Profit During the current year, merchandise is sold for $140,400 cash and $588,600 on…

A: The cash or profit that is still available after production costs are deducted from sales is known…

Q: During the current year, merchandise is sold for $43000 cash and for $307000 on account. The cost of…

A:

Q: Financial information is presented below: Operating expenses $ 50000 Sales returns and allowances…

A:

Q: Financial information is presented below: Operating expenses$51000Sales returns and…

A: Net sales revenue is the amount of sales revenue after deducting sales return & allowance and…

Q: Question: During the current year, merchandise is sold for $194,200 cash and $454,200 on account.…

A: Given:>Cash sales (in cash) = $194,200 >Credit sales (on account) = $454,200>Cost of the…