Plato Ventures reports sales revenue of $285,000 and the cost of goods sold is $163,000. What is the gross profit for the period? A) $112,000 B) $98,000 C) $122,000 D) $148,000. Please provide solution

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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Plato Ventures reports sales revenue of $285,000 and the cost of goods sold is $163,000. What is the gross profit for the period? A) $112,000 B) $98,000 C) $122,000 D) $148,000. Please provide solution

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