Lone Star, Inc., reported sales of $560,000, cost of sales of $255,000, and operating expenses of $130,000

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Lone Star, Inc., reported sales of $560,000, cost of sales of $255,000, and operating expenses of $130,000 for the current year. Using this information, calculate the amount of net income and net income as a percentage of sales.

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Financial Accounting

ISBN: 978-1259692390

17th edition

Authors: Jan Williams, Susan Haka, Mark S Bettner, Joseph V Carcello

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Question Posted: Jul 06, 2018 02:11 PM

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Lone Star, Inc., reported sales of $560,000, cost of sales of $255,000, and operating expenses of $130,000

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Net income 560000 ...View the full answer

Financial Accounting

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