Answered: If a gross margin of $42,000 is 35% of…

If a gross margin of $42,000 is 35% of net sales revenues, then net sales revenues must be: a. $90,000 b. $120,000 c. $147,000 d. $150,000

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter5: The Income Statement And The Statement Of Cash Flows

Section: Chapter Questions

Problem 2MC: The following information is available for Cooke Company for the current year: The gross margin is...

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Question

Provide correct option general accounting

If a gross margin of $42,000 is 35% of net sales revenues, then net
sales revenues must be:
a. $90,000
b. $120,000
c. $147,000
d. $150,000

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