The account balances for Kinder Morgan are listed below. All balances are as of December 31, 2022, except where noted: Account Title Account Title Accounts Payable Accounts Receivable, 1/1/22 Accumulated Depreciation Building Cash Common Stock Delivery Truck Depreciation Expense Dividends Select one: O O O O Balance $7,190 Inventory, 1/1/22 3,564 Supplies 17,200 Salaries Expense 7 Marketable Equity Securities Accounts Receivable, 12/31/22 Determine the Gross Profit Percentage: a. 45.2% b. 67.4% c. 32.6% d. 24.2% e. 58.8% ??? Net Revenue 8,200 Rent Expense 36,000 Retained Earnings, 1/1/22 7,800 Equipment 3,370 Prepaid Expenses 1,700 Cost of Goods Sold 2,700 Notes Payable (due 2024) 4,200 Inventory, 12/31/22 Balance $1,630 6,000 9,000 43,204 6,280 18,780 12,600 2,100 14,080 4,300 2.930
The account balances for Kinder Morgan are listed below. All balances are as of December 31, 2022, except where noted: Account Title Account Title Accounts Payable Accounts Receivable, 1/1/22 Accumulated Depreciation Building Cash Common Stock Delivery Truck Depreciation Expense Dividends Select one: O O O O Balance $7,190 Inventory, 1/1/22 3,564 Supplies 17,200 Salaries Expense 7 Marketable Equity Securities Accounts Receivable, 12/31/22 Determine the Gross Profit Percentage: a. 45.2% b. 67.4% c. 32.6% d. 24.2% e. 58.8% ??? Net Revenue 8,200 Rent Expense 36,000 Retained Earnings, 1/1/22 7,800 Equipment 3,370 Prepaid Expenses 1,700 Cost of Goods Sold 2,700 Notes Payable (due 2024) 4,200 Inventory, 12/31/22 Balance $1,630 6,000 9,000 43,204 6,280 18,780 12,600 2,100 14,080 4,300 2.930
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:The account balances for Kinder Morgan are listed below. All balances are as of December 31, 2022, except where noted:
Account Title
Account Title
Accounts Payable
Accounts Receivable, 1/1/22
Accumulated Depreciation
Building
Cash
Common Stock
Delivery Truck
Depreciation Expense
Dividends
Marketable Equity Securities
Accounts Receivable, 12/31/22
Determine the Gross Profit Percentage:
Select one:
O
O
O
Balance
$7,190 Inventory, 1/1/22
3,564 Supplies
17,200 Salaries Expense
??? Net Revenue
8,200 Rent Expense
36,000 Retained Earnings, 1/1/22
7,800 Equipment
3,370 Prepaid Expenses
1,700 Cost of Goods Sold
2,700 Notes Payable (due 2024)
4,200 Inventory, 12/31/22
a. 45.2%
b. 67.4%
c. 32.6%
d. 24.2%
e. 58.8%
Balance
$1,630
6,000
9,000
43,204
6,280
18,780
12,600
2,100
14,080
4,300
2,930
27
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