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Please show me the calculations. 1.One store's information is listed in the table below: Sales Returns$700 Rent Expense$1,288 Sales Discounts$950 Depreciation Expense$600 Cost of Merchandise
Please show me the calculations.
1.One store's information is listed in the table below:
Sales Returns$700
Rent Expense$1,288
Sales Discounts$950
Depreciation Expense$600
Cost of Merchandise Sold$7,600
Gross Sales$20,900
Advertising Expense$1,650
Salary Expense$2,900
Heat Expense$900
Using this information, calculate the store's:
(a)Net sales
(b)Gross profit
(c)Total operating expenses
(d)Net income
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