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Financial information is presented below: Operating expenses $59,000 Sales returns and allowances 2,000 Sales discounts 9,000 Sales revenue 194,000 Cost of goods sold 102,000 Gross Profit would be: a. $81,000. b. $92,000. c. $90,000. d. $94,000.

Financial information is presented below: Operating expenses $59,000 Sales returns and allowances 2,000 Sales discounts 9,000 Sales revenue 194,000 Cost of goods sold 102,000 Gross Profit would be: a. $81,000. b. $92,000. c. $90,000. d. $94,000.

FINANCIAL ACCOUNTING
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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Financial information is presented below: Operating expenses $59,000 Sales returns and allowances 2,000 Sales discounts 9,000 Sales revenue 194,000 Cost of goods sold 102,000 Gross Profit would be: a. $81,000. b. $92,000. c. $90,000. d. $94,000.
Transcribed Image Text:Financial information is presented below: Operating expenses $59,000 Sales returns and allowances 2,000 Sales discounts 9,000 Sales revenue 194,000 Cost of goods sold 102,000 Gross Profit would be: a. $81,000. b. $92,000. c. $90,000. d. $94,000.
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