Susan Corporation has the following items on its year-end trial balance: Net Sales Common Stock Insurance Expense Wages $600,000 $120,000 $85,000 $60,000 Cost of Goods Sold (COGS) $150,000 Cash $50,000 Accounts Payable $30,000 Interest Payable $30,000 What is the company's gross profit?
Susan Corporation has the following items on its year-end trial balance: Net Sales Common Stock Insurance Expense Wages $600,000 $120,000 $85,000 $60,000 Cost of Goods Sold (COGS) $150,000 Cash $50,000 Accounts Payable $30,000 Interest Payable $30,000 What is the company's gross profit?
Chapter16: Supply Chains And Working Capital Management
Section: Chapter Questions
Problem 11P
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Accounts payable:30000, interest payable:30000

Transcribed Image Text:Susan Corporation has the following items on
its year-end trial balance:
Net Sales
Common Stock
Insurance Expense
Wages
$600,000
$120,000
$85,000
$60,000
Cost of Goods Sold (COGS) $150,000
Cash
$50,000
Accounts Payable
$30,000
Interest Payable
$30,000
What is the company's gross profit?
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