If sales revenues totals $450,000, cost of goods sold is $320,000, operating expenses are $90,000, and nonoperating expenses are $20,000, how much is the gross profit? a. $130,000 b. $360,000 c. $40,000 d. $270,000 e. $450,000
If sales revenues totals $450,000, cost of goods sold is $320,000, operating expenses are $90,000, and nonoperating expenses are $20,000, how much is the gross profit? a. $130,000 b. $360,000 c. $40,000 d. $270,000 e. $450,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:If sales revenues totals $450,000, cost of goods sold is $320,000, operating
expenses are $90,000, and nonoperating expenses are $20,000, how much is
the gross profit?
a. $130,000
b. $360,000
c. $40,000
d. $270,000
e. $450,000
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