PROBLEM 3 For each of the following, determine the missing amounts Sales COGS Gross Profit Operating Expenses Net income 1. P100,000 P25,000 P10,000 2. P95,000 P120,000 P80,000 Answers: 1. COGS, ; Gross profit, 2. Sales, ; Operating expenses,

PROBLEM 3 For each of the following, determine the missing amounts Sales COGS Gross Profit Operating Expenses Net income 1. P100,000 P25,000 P10,000 2. P95,000 P120,000 P80,000 Answers: 1. COGS, ; Gross profit, 2. Sales, ; Operating expenses,

Name: fill in the blanks PROBLEM 3 For each of the following, determine the
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Description: fill in the blanks PROBLEM 3 For each of the following, determine the missing amountsSalesCOGSGross ProfitOperating ExpensesNet income1. P100,000P25,000P10,0002.P95,000P120,000P80,000Answers:1. COGS,; Gross profit,2. Sales,; Operating expenses,

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter15: Financial Statements And Year-end Accounting For A Merchandising Business

Section: Chapter Questions

Problem 1TF: LO1 A multiple-step form of income statement calculates gross profit, before subtracting operating...

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