Chen Company has net sales of $500,000, cost of goods sold of $300,000, and interest expense of

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Chen Company has net sales of $500,000, cost of goods sold of $300,000, and interest expense of $10,000. What is the amount of gross profit on sales?
a. $200,000
b. $198,000
c. $202,000
d. None of these

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College Accounting A Contemporary Approach

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Authors: David Haddock, John Price, Michael Farina

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Question Posted: Jul 07, 2022 08:39 AM

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Chen Company has net sales of $500,000, cost of goods sold of $300,000, and interest expense of

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