The following financial information was summarized from the accounting records of Train Corporation for the current year ended December 3. Rails Locomotive Corporate Division Division Total Cost of goods sold $45,700 $28,800 Direct operating expenses 27,600 22,800 Sales 94,100 68,700 Interest expense $2,600 General overhead 19,700 Income tax 4,400 The gross profit for the Rails Division is Oa. $20,800 Ob. $94,100 Oc. $48,400 Od. $66,500
The following financial information was summarized from the accounting records of Train Corporation for the current year ended December 3. Rails Locomotive Corporate Division Division Total Cost of goods sold $45,700 $28,800 Direct operating expenses 27,600 22,800 Sales 94,100 68,700 Interest expense $2,600 General overhead 19,700 Income tax 4,400 The gross profit for the Rails Division is Oa. $20,800 Ob. $94,100 Oc. $48,400 Od. $66,500
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
![onL...
Use this information for Train Corporation to answer the question that follow.
The following financial information was summarized from the accounting records of Train Corporation for the current year ended December 31:
Rails
Locomotive
Corporate
Division
Division
Total
Cost of goods sold
$45,700
$28,800
Direct operating expenses
27,600
22,800
Sales
94,100
68,700
Interest expense
$2,600
General overhead
19,700
Income tax
4,400
The gross profit for the Rails Division is
Oa. s20,800
Ob. $94,100
Oc. $48,400
Od. $66,500
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Next
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CP
17/13/20](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F7544cca1-c6be-42f4-b7c9-f530cb264183%2Fdf2a722a-2ecb-4eb4-80d5-7c799477aaba%2F0yzql0c_processed.jpeg&w=3840&q=75)
Transcribed Image Text:onL...
Use this information for Train Corporation to answer the question that follow.
The following financial information was summarized from the accounting records of Train Corporation for the current year ended December 31:
Rails
Locomotive
Corporate
Division
Division
Total
Cost of goods sold
$45,700
$28,800
Direct operating expenses
27,600
22,800
Sales
94,100
68,700
Interest expense
$2,600
General overhead
19,700
Income tax
4,400
The gross profit for the Rails Division is
Oa. s20,800
Ob. $94,100
Oc. $48,400
Od. $66,500
Previous
Next
7:32 PM
CP
17/13/20
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