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A business reports gross profit of $50,000 and operating profit of $25,000. The following costs were left out by mistake by the bookkeeper: Freight-in $1,200
A business reports gross profit of $50,000 and operating profit of $25,000. The following costs were left out by mistake by the bookkeeper: Freight-in $1,200 Freight-out $2,000 Discount Allowed $2,800 Discount Received $3,200 The revised profit figures would be:
a.
Gross profit $48 800; Operating profit $23 400
b.
Gross profit $52 000; Operating profit $20 200
c.
Gross profit $46 800; Operating profit $22 200
d.
Gross profit $50 000; Operating profit $25 000
e.
Gross profit $53 200; Operating profit $23 400
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