Venture Company has sales revenue of $50,000, cost of goods sold of $28,000, and operating expenses of $12,000 for the year ended December 31. Venture's gross profit is: a. $22,000 b. $18,000 c. $30,000 d. $12,000

Venture Company has sales revenue of $50,000, cost of goods sold of $28,000, and operating expenses of $12,000 for the year ended December 31. Venture's gross profit is: a. $22,000 b. $18,000 c. $30,000 d. $12,000

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 1RE: Brandt Corporation had sales revenue of 500,000 for the current year. For the year, its cost of...

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Question

Venture gross profit is

Venture Company has sales revenue of $50,000, cost of goods
sold of $28,000, and operating expenses of $12,000 for the year
ended December 31. Venture's gross profit is:
a. $22,000
b. $18,000
c. $30,000
d. $12,000

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