Johnson$$s General Store had gross revenue in July of $$24,400,$ cost of goods sold of $$10,500,$ and returns of $$2,100.$ Calculate gross profit.

A: Net sales $=$ gross sales $$ returns:

$11.$ Using the data from problem $8$ above and assuming Johnson$$s General Store had selling expenses of $$2,489,$ overhead expenses of $$5,602,$ depreciation of $$433,$ and paid interest of $$576,$ principal of $$37,$ taxes of $$574,$ and had inventory losses of $$189$ resulting from a power outage.

a$.$ Calculate total operating expenses

b$.$ Calculate operating profit

d$.$ Calculate profit before taxes

e$.$ Calculate net profit

Johnson's General Store

Profit and Loss Statement

Sale Activities

Gross Revenue

Less returns

Net Revenue

Cost of Goods Sold

Gross Profit

Operating Expenses

Selling expenses

Overhead expenses

Depreciation

Total Operating Expenses

Operating Profit

Interest

Inventory losses

Profit Before Taxes

Income Taxes

Net Profit