Answered: financial information is presented here…

financial information is presented here for queen company. Net sales- 80,000 cost of goods sold- 48,000 gross profit- 32,000 operating expenses- 18,00

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 here for queen company.

Net sales- 80,000

cost of goods sold- 48,000

gross profit- 32,000

operating expenses- 18,000

net income 14,000

Gross profit?

Profit margin?

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