ion 55 ABC Company borrows $497,000 from the bank at 7% for a three year period on Jan. 01. The loan will be repaid in three blended, Principal and interest, annual payments of $189,383 that are due at the end of each year. What is the amount of interest expense that should be recognized by the company in the second year? ered ked out of Flag question O a. $84,790 O b. $23,193 7 OC $17,395 O d. $23,968 dion 54 et ered Given Net sales are $500,000, cost of goods sold is $325,000, selling expenses are $10,000, Administrative expenses are $40,000, other revenues are $15,000, and income tax expense is $8,000. What is the gross profit? ed out of lag question O a. $140,000 Ob. $125,000 oc. $175,000 O d. $132,000