1-Financial information is presented here.

Operating expenses	$52080
Sales returns and allowances	14880
Sales discounts	3720
Sales revenue	204600
Cost of goods sold	119040

The profit margin is

A-6%.

B-36%.

C-8%.

D-18%.

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2-Crane Company just began business and made the following four inventory purchases in June:

June 1		212 units		$ 1292
June 10		252 units		1764
June 15		252 units		2016
June 28		212 units		1802
				$ 6874

A physical count of merchandise inventory on June 30 reveals that there are 262 units on hand. Using the FIFO inventory method, the amount allocated to ending inventory for June is

A-$2202

B-$2282

C-$1642

D-$1941

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3-Cullumber Company buys land for $149000 on 12/31/21. As of 3/31/22, the land has appreciated in value to $156000. On 12/31/22, the land has an appraised value of $226002. By what amount should the Land account be increased in 2022?

A-$77002.

B-$7000.

C-$0.

D-$70002.