Homework Help is Here – Start Your Trial Now!
Business
Accounting
If sales revenues are $200,000, cost of goods sold is $155,000, and operating expenses are $30,000, what is the gross profit? a. $15,000 b. $45,000 c. $75,000 d. $185,000

If sales revenues are $200,000, cost of goods sold is $155,000, and operating expenses are $30,000, what is the gross profit? a. $15,000 b. $45,000 c. $75,000 d. $185,000

Intermediate Accounting: Reporting And Analysis
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...
See similar textbooks
icon
Related questions
Question
100%

What is the gross profit?

If sales revenues are $200,000, cost of goods sold is $155,000, and operating expenses are $30,000, what is the gross profit? a. $15,000 b. $45,000 c. $75,000 d. $185,000
Transcribed Image Text:If sales revenues are $200,000, cost of goods sold is $155,000, and operating expenses are $30,000, what is the gross profit? a. $15,000 b. $45,000 c. $75,000 d. $185,000
Expert Solution
steps

Step by step

Solved in 2 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Recommended textbooks for you
Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
Accounting
ISBN:
9781337788281
Author:
James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:
Cengage Learning
Cornerstones of Cost Management (Cornerstones Ser…
Cornerstones of Cost Management (Cornerstones Ser…
Accounting
ISBN:
9781305970663
Author:
Don R. Hansen, Maryanne M. Mowen
Publisher:
Cengage Learning
SEE MORE TEXTBOOKS