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If sales revenues are $450,000, cost of goods sold is $320,000, and operating expenses are $55,000, what is the gross profit? a) $75,000 b) $100,000 c) $130,000 d) $180,000

If sales revenues are $450,000, cost of goods sold is $320,000, and operating expenses are $55,000, what is the gross profit? a) $75,000 b) $100,000 c) $130,000 d) $180,000

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...
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If sales revenues are $450,000, cost of goods sold is $320,000, and operating expenses are $55,000, what is the gross profit? a) $75,000 b) $100,000 c) $130,000 d) $180,000
Transcribed Image Text:If sales revenues are $450,000, cost of goods sold is $320,000, and operating expenses are $55,000, what is the gross profit? a) $75,000 b) $100,000 c) $130,000 d) $180,000
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