PLease show Solutions for a guide. 1. A firm total sales is 156,000 this year. If the cost of sales is 55% . What is the amount of gross profit? 2. If the firm above earned a profit of 39,000 . How many percent of total sales is the net profit? 3. Compute for the operating expenses of the firm 1 and 2. How many percent of the total sales are the operating expenses?

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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PLease show Solutions for a guide.

1. A firm total sales is 156,000 this year. If the cost of sales is 55% . What is the amount of gross profit?

2. If the firm above earned a profit of 39,000 . How many percent of total sales is the net profit?

3. Compute for the operating expenses of the firm 1 and 2. How many percent of the total sales are the operating expenses?

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