*Please show me how to solve this step by step!* Thank you! 9. The following information is...
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9. The following information is available for Marigold Corp.:
Sales $490000 Total fixed expenses $150000
Cost of goods sold 310000 Total variable expenses 260000
A CVP income statement would report
contribution margin of $230000.
gross profit of $230000.
gross profit of $180000.
contribution margin of $340000.
10. For Sheffield Corp., sales is $1500000, fixed expenses are $400000, and the contribution margin ratio is 36%. What is net income?
$140000
$396000
$540000
$144000
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