NovaTech Systems has reported the following financial data for the year: . Sales: $3,740,000 • . Selling and administrative expenses: $182,500 Interest expense: $25,400 . Cost of goods sold: $2,245,600 What is the gross margin? a. $1,512,500 b. $1,494,400 c. $1,511,900 d. $1,288,900

NovaTech Systems has reported the following financial data for the year: . Sales: $3,740,000 • . Selling and administrative expenses: $182,500 Interest expense: $25,400 . Cost of goods sold: $2,245,600 What is the gross margin? a. $1,512,500 b. $1,494,400 c. $1,511,900 d. $1,288,900

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

Financial Accounting

NovaTech Systems has reported the following financial data for the
year:
.
Sales: $3,740,000
•
.
Selling and administrative expenses: $182,500
Interest expense: $25,400
. Cost of goods sold: $2,245,600
What is the gross margin?
a. $1,512,500
b. $1,494,400
c. $1,511,900
d. $1,288,900

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