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Alpha Company's income statement for the month of June 20X71 is as follows: Item Amount Sales $4,000,000 Cost of Goods Sold $1,600,000 Gross Profit ?
Alpha Company's income statement for the month of June 20X71 is as follows:
| Item | Amount |
|---|---|
| Sales | $4,000,000 |
| Cost of Goods Sold | $1,600,000 |
| Gross Profit | ? |
| Operating Expenses | $1,000,000 |
| Depreciation Expense | $200,000 |
| Income Tax Expense | $800,000 |
| Net Income | ? |
Calculate the missing amounts:
- Gross Profit
- Net Income
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International Financial Reporting A Practical Guide
Authors: Alan Melville
6th edition
1292200743, 1292200766, 9781292200767, 978-1292200743
