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As an auditor for Apple Inc., you are asked to verify the following sales data for the quarter ended March 31, 2024: Total sales revenue:
As an auditor for Apple Inc., you are asked to verify the following sales data for the quarter ended March 31, 2024:
- Total sales revenue: $10,000,000
- Sales returns: $500,000
- Sales discounts: $200,000
- Cost of goods sold: $6,000,000
- Operating expenses: $2,000,000
Calculate the net sales, gross margin, and net income for Apple Inc. for the quarter ended March 31, 2024.
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