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Johnson Clothing Supercenter generated a gross profit of $7,750,000 during the year. Also during the year, Johnson incurred advertising expense of $1,500,000, salaries expense of
Johnson Clothing Supercenter generated a gross profit of $7,750,000 during the year. Also during the year, Johnson incurred advertising expense of $1,500,000, salaries expense of $2,100,000, and income tax expense of $2,000,000. Required: Calculate the company's operating profit and net income for the year.
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Operating profit $ _________________ Net income $ _________________
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