During the current year, merchandise is sold for $8,920,000. The cost of the goods sold is $6,065,600. This information has been collected in the Microsoft
During the current year, merchandise is sold for $8,920,000. The cost of the goods sold is $6,065,600. This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the questions below.
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What is the amount of the gross profit? Round your answer to the nearest dollar.
$
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Compute the gross profit percentage (gross profit divided by sales). Round your answer to the nearest whole number.
%
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Will the income statement always report a operating income?
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Authors: Frank Wood
4th Edition
0582413435, 978-0582413436
