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Given the following information for Bluestar Corporation, determine the gross profit. Item Amount ($) Accounts Receivable 22,000 Administrative Expenses 45,000 Cost of Goods Sold 235,000 Depreciation Expense 12,000 Income Tax Expense 8,000 Inventory 38,000 Sales 520,000 Selling Expenses 52,000 Wage Expense 95,000 A) $285,000 B) $225,000 C) $330,000 D) $245,000

Given the following information for Bluestar Corporation, determine the gross profit. Item Amount ($) Accounts Receivable 22,000 Administrative Expenses 45,000 Cost of Goods Sold 235,000 Depreciation Expense 12,000 Income Tax Expense 8,000 Inventory 38,000 Sales 520,000 Selling Expenses 52,000 Wage Expense 95,000 A) $285,000 B) $225,000 C) $330,000 D) $245,000

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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Given the following information for Bluestar Corporation, determine the gross profit. Item Amount ($) Accounts Receivable 22,000 Administrative Expenses 45,000 Cost of Goods Sold 235,000 Depreciation Expense 12,000 Income Tax Expense 8,000 Inventory 38,000 Sales 520,000 Selling Expenses 52,000 Wage Expense 95,000 A) $285,000 B) $225,000 C) $330,000 D) $245,000
Transcribed Image Text:Given the following information for Bluestar Corporation, determine the gross profit. Item Amount ($) Accounts Receivable 22,000 Administrative Expenses 45,000 Cost of Goods Sold 235,000 Depreciation Expense 12,000 Income Tax Expense 8,000 Inventory 38,000 Sales 520,000 Selling Expenses 52,000 Wage Expense 95,000 A) $285,000 B) $225,000 C) $330,000 D) $245,000
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