Question
Data Co. reported the following account balances (in thousands): Administrative expenses $53,000 Accounts receivable 70,000 Sales revenue 545,000 Selling expenses 22,000 Cost of goods sold
Data Co. reported the following account balances (in thousands):
| Administrative expenses | $53,000 |
| Accounts receivable | 70,000 |
| Sales revenue | 545,000 |
| Selling expenses | 22,000 |
| Cost of goods sold | 212,500 |
| Cash dividends paid | 40,000 |
How much is net income for Data Co.?
Select one:
a. $257,500
b. $132,500
c. $22,500
d. $77,500
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Auditing Cases An Active Learning Approach
Authors: Mark S. Beasley, Frank A. Buckless, Steven M. Glover, Douglas F. Prawitt
2nd Edition
0130674842, 978-0130674845
