Chapter 5, Problem 5.1BE

To determine

Gross profit represents the revenue after the deduction of cost of goods sold from the net sales of a business. Its mathematical representation is as below:

$\text{Gross profit}=\text{Net sales}–\text{Cost of goods sold}$

Net income represents the revenue after the deduction of operating expenses from the gross profit. Its mathematical representation is as below:

$\text{Net income}=\text{Gross profit}-\text{Operating expenses }$

To Calculate: The missing figures of Company C.