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Lambda Enterprises' income statement for the month of September 20X80 is as follows: Item Amount Sales $4,600,000 Cost of Goods Sold $1,840,000 Gross Profit ?
Lambda Enterprises' income statement for the month of September 20X80 is as follows:
| Item | Amount |
|---|---|
| Sales | $4,600,000 |
| Cost of Goods Sold | $1,840,000 |
| Gross Profit | ? |
| Operating Expenses | $1,200,000 |
| Depreciation Expense | $260,000 |
| Income Tax Expense | $1,040,000 |
| Net Income | ? |
Calculate the missing amounts:
- Gross Profit
- Net Income
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College Accounting A Contemporary Approach
Authors: David Haddock, John Price, Michael Farina
3rd edition
77639731, 978-0077639730
