12. Nassau Farms, Ltd., made sales of $760,000 and had cost of goods sold of $410,000. Inventory...

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12. Nassau Farms, Ltd., made sales of $760,000 and had cost of goods sold of $410,000.

Inventory decreased by $10,000 and accounts payable decreased by $12,000. Operating expenses were $180,000. How much was Nassau Farms’s net income for the year?

a. $172,000

c. $168,000

b. $170,000

d. $350,000

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Financial Accounting International Financial Reporting Standards Global Edition

ISBN: 9781292211145

11th Edition

Authors: Charles T. Horngren, C. William Thomas, Wendy M. Tietz, Themin Suwardy, Walter T. Harrison

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Question Posted: Jul 26, 2024 09:02 AM

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12. Nassau Farms, Ltd., made sales of $760,000 and had cost of goods sold of $410,000. Inventory...

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Financial Accounting International Financial Reporting Standards Global Edition

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