Question
Net sales 2017 $1,818,500 2016 $1,750,500 Cost of goods sold 1,011,500 996,000 Gross profit 807,000 754,500 Selling and administrative expense 516,000 479,000 Income from
Net sales 2017 $1,818,500 2016 $1,750,500 Cost of goods sold 1,011,500 996,000 Gross profit 807,000 754,500 Selling and administrative expense 516,000 479,000 Income from operations 291,000 275,500 Interest expense 15,000 14,000 Income before income taxes 276,000 261,500 Income tax expense 84,000 77,000 Net income $192,000 $184,500
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Financial Accounting
Authors: J. David Spiceland, Wayne Thomas, Don Herrmann
3rd edition
9780077506902, 78025540, 77506901, 978-0078025549
