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A company reported the following: Cost of Goods Sold $ 200,000 General, Selling, and Administrative Expenses 52,800 Income Tax Expense 3,600 Inventory 12,000 Net Income
A company reported the following:
| Cost of Goods Sold | $ | 200,000 | |
| General, Selling, and Administrative Expenses | 52,800 | ||
| Income Tax Expense | 3,600 | ||
| Inventory | 12,000 | ||
| Net Income | 22,560 | ||
| Sales Revenue | 284,000 | ||
| Sales Discounts | 2,720 | ||
| Sales Returns & Allowances | 2,320 | ||
What is the amount of gross profit?
Multiple Choice
$75,360
$78,960
$84,000
$26,160
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The Partnership And Alliances Audit
Authors: David Connell, Peter J. LaPlaca, Kenneth Wexler
1st Edition
1907766065, 978-1907766060
