Question $2$

Please use the following financial data:

Net sales $$200,000$

Cost of goods sold $$90,000$

Operating expenses $$80,000$

Net income $$10,000$

Total assets $$180,000$

Total liabilities $$120,000$

Gross profit is:

$$110,000$

$$120,000$

$$10,000$

$$60,000$