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Johnson s General Store had gross revenue in July of $ 2 4 , 4 0 0 , cost of goods sold of $ 1
Johnsons General Store had gross revenue in July of $ cost of goods sold of $ and returns of $ Calculate gross profit. A: Net sales gross sales returns: Using the data from problem above and assuming Johnsons General Store had selling expenses of $ overhead expenses of $ depreciation of $ and paid interest of $ principal of $ taxes of $ and had inventory losses of $ 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
Johnsons General Store had gross revenue in July of $ cost of goods sold of $ and returns of $ Calculate gross profit.
A: Net sales gross sales returns:
Using the data from problem above and assuming Johnsons General Store had selling expenses of $ overhead expenses of $ depreciation of $ and paid interest of $ principal of $ taxes of $ and had inventory losses of $ 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
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