1). Costs are classified on a traditional income statement based on? A). Variable vs. fixed costs, B). this statement does not include costs, or C). Product vs. period costs

2). Sales is $90,000; Cost of goods sold is $65,000; selling expenses is $15,000. What is gross margin?

3).Traditional Income statement at 1000 units: Sales $120 per unit; Costs of Goods sold $70 per unit; Admin expense $18,000 fixed; Sales expense $22,0000 fixed. What is gross margin?

4).Traditional Income statement at 1000 units: Sales $120 per unit; Costs of Goods sold $70 per unit; Admin expense $18,000 fixed; Sales expense $22,0000 fixed. What is net income?