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Lions gate Enterprises has experienced the following revenues and expenses for the year: . • Sales: $2,500,000 Selling and administrative expenses: $125,000 • Interest expense: $15,000 • Cost of goods sold: $1,200,000 What is the gross margin?

Lions gate Enterprises has experienced the following revenues and expenses for the year: . • Sales: $2,500,000 Selling and administrative expenses: $125,000 • Interest expense: $15,000 • Cost of goods sold: $1,200,000 What is the gross margin?

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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Lions gate Enterprises has experienced the following revenues and expenses for the year: . • Sales: $2,500,000 Selling and administrative expenses: $125,000 • Interest expense: $15,000 • Cost of goods sold: $1,200,000 What is the gross margin?
Transcribed Image Text:Lions gate Enterprises has experienced the following revenues and expenses for the year: . • Sales: $2,500,000 Selling and administrative expenses: $125,000 • Interest expense: $15,000 • Cost of goods sold: $1,200,000 What is the gross margin?
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