SWFT Comprehensive Volume 2019
42nd Edition
ISBN: 9780357233306
Author: Maloney
Publisher: Cengage
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The Falcon Company has reported the following data:
Item
Amount
Operating expenses $ 1,80,00
Cost of goods sold
$ 5,20,00
Net sales
$9,70,00
Interest expense
$ 45,000
Gain on sale of
$ 35,000
assets
Income tax expense $95,000
What was Falcon's gross profit?
A. $450,000
B. $380,000
C. $250,000
D. $520,000
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