Parker Enterprises had the following financial data: Sales Sales Discounts $900,000 $14,500 Sales Returns and Allowances $20,300 Cost of Goods Sold (COGS) Operating Expenses What is the net income? a. $135,000 b. $170,000 c. $145,000 d. $800,500 $420,000 $310,200

Parker Enterprises had the following financial data: Sales Sales Discounts $900,000 $14,500 Sales Returns and Allowances $20,300 Cost of Goods Sold (COGS) Operating Expenses What is the net income? a. $135,000 b. $170,000 c. $145,000 d. $800,500 $420,000 $310,200

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

What is the net income?

Parker Enterprises had the following financial
data:
Sales
Sales Discounts
$900,000
$14,500
Sales Returns and Allowances $20,300
Cost of Goods Sold (COGS)
Operating Expenses
What is the net income?
a. $135,000
b. $170,000
c. $145,000
d. $800,500
$420,000
$310,200

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