During August, 2008, Sal's Supply Store generated revenues of $30,000. The company's expenses were as follows: cost of goods sold of $12,000 and operating expenses

Question

79 users unlocked this solution today!

During August, 2008, Sal's Supply Store generated revenues of $30,000. The company's expenses were as follows: cost of goods sold of $12,000 and operating expenses of $2,000. The company also had rent revenue of $500 and a gain on the sale of a delivery truck of $1,000 135. Sal's gross profit for August, 2008 is a. $30,000. b. $19,000 C. $18,000 d. $16.000 136. Salls nonoperating income (loss) for the month of August, 2008 is a. $0. b. $500 C. $1,000 d. $1,500 137. Salls operating income for the month of August, 2008 is a. $30,000 b. $19,500 c. $18,500 d. $16,000 138. Sal's net income for August, 2008 is a. $18,000 b. $17,500 c. $16,500 d. $16.000