The following information relates to R & B Inc. Sales Revenue $250,000 Cost of Goods Sold (COGS) $170,000 Interest Revenue Operating Expenses Sales Discounts $9,000 $45,000 $18,000 Sales Returns & Allowances $7,000 What is the net income of R & B Inc.?

The following information relates to R & B Inc. Sales Revenue $250,000 Cost of Goods Sold (COGS) $170,000 Interest Revenue Operating Expenses Sales Discounts $9,000 $45,000 $18,000 Sales Returns & Allowances $7,000 What is the net income of R & B Inc.?

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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Question

Sales revenue 250000, COGS 170000

The following information relates to R & B
Inc.
Sales Revenue
$250,000
Cost of Goods Sold (COGS) $170,000
Interest Revenue
Operating Expenses
Sales Discounts
$9,000
$45,000
$18,000
Sales Returns & Allowances $7,000
What is the net income of R & B Inc.?

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