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Income Statement Interpretation: Item Amount Sales Revenue $3,000,000 Cost of Goods Sold $1,000,000 Gross Profit $2,000,000 Operating Expenses $700,000 Net Income $1,300,000 Analyze the income
Income Statement Interpretation:
| Item | Amount |
|---|---|
| Sales Revenue | $3,000,000 |
| Cost of Goods Sold | $1,000,000 |
| Gross Profit | $2,000,000 |
| Operating Expenses | $700,000 |
| Net Income | $1,300,000 |
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Accounting
Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac
25th edition
978-1285069609, 1285069609, 978-1133607601
