1. EX.01-03 Algo Determining Gross Profit During the current year, merchandise is sold for $984,000. The cost of the goods sold is $708,480 2. EX 01-05 Algo a. What is the amount of the gross profit? 3. EX.01-07 4. EX.02-05 Algo b. Compute the gross profit percent. Round to the nearest whole number 5. EX 02-08 Algo c. Which of the following is true, based on the above information 6. EX03-02 Algo 7. EX 03-13. Ako The income is $495.000 The company may have a net income or net loss depending upon the amount of operating expenses. If operating ones are greater than gross pront, there will be a net income None of these answers is correct. 8. EX 04-01 Algo 9. EX.04-09 Algo 10. EX.05-13. Algo