Answered step by step
Verified Expert Solution
Question
1 Approved Answer
In 2019 ABC company reported a Gross profit of $260,000, if the CGS equals 80% of the sales and the Operating profit margin is 12%,
In 2019 ABC company reported a Gross profit of $260,000, if the CGS equals 80% of the sales and the Operating profit margin is 12%, then the amount of operating expenses reported for that year must be? a. $92,000 b. $128,000 c. $96,000 d. $104,000
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started