Tanner & Co. reported the following figures for the year ended December 31: . Sales revenue = $52,000 • Cost of goods sold (COGS) = $31,500 • Operating expenses = $11,000 What is the company's gross profit? a. $20,500 b. $9,500 c. $31,000 d. $40,000

Tanner & Co. reported the following figures for the year ended December 31: . Sales revenue = $52,000 • Cost of goods sold (COGS) = $31,500 • Operating expenses = $11,000 What is the company's gross profit? a. $20,500 b. $9,500 c. $31,000 d. $40,000

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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Choice best answer general accounting

Tanner & Co. reported the following figures for the year ended December 31:
.
Sales revenue = $52,000
•
Cost of goods sold (COGS) = $31,500
• Operating expenses = $11,000
What is the company's gross profit?
a. $20,500
b. $9,500
c. $31,000
d. $40,000

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