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14. You are analyzing a partial set of financial information for Fairplay, Inc. for its FY 2017, and you are presented with the following information:
14. You are analyzing a partial set of financial information for Fairplay, Inc. for its FY 2017, and you are presented with the following information: wwwww.onnw $1,000,000 $100,000 $100,000 $800,000 Credit Sales Sales Returns Cost of Sales Collections on Credit Sales How much would Fairplay report as Sales on its FY 2017 income statement? a. $200,000 b. $900,000 c. $1,000,000 15. Using the same information as in Question 14, what is Fairplay's gross margin for FY wwwinne 2017? a. $900,000 b. $800,000 c. $700,000 d. $600,000
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