11.

The Nellie Company has provided the following information:

Operating expenses were $123,000;

Gross profit was $630,000;

Cost of goods sold was $430,000

Interest expense was $13,000;

Income tax expense was $188,400.

What was Nellie's operating income?

Multiple Choice

• $494,000.

• $507,000.

• $87,000.

• $305,600.

1.

Brimmel Corp. has provided the following information: Sales were $875,000; Cost of goods sold was $420,000; Net income was $205,000. What was Brimmel's gross profit percentage?

Multiple Choice

• 52%

• 23.43%

• 48%

• 204.88%

2.

The Willie Company has provided the following information: Operating expenses were $345,000; Income from operations was $415,000; Net sales were $1,100,000; Interest expense was $71,000; Loss from sale of investments was $87,000; Income tax expense was $58,000. What was Willie's gross profit?

Multiple Choice

• $340,000.

• $689,000.

• $818,000.

• $760,000.