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On January 1, 2017, Christel Madan Corporation had inventory of $51, 500. At December 31, 2017, Christel Madan had the following account balances. At December

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On January 1, 2017, Christel Madan Corporation had inventory of $51, 500. At December 31, 2017, Christel Madan had the following account balances. At December 31, 2017, Christel Madan determines that its ending inventory is $61, 500. Compute Christel Madan's 2017 gross profit. Compute Christel Madan's 2017 operating expenses if net income is $133,000 and there are no non-operating activities

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