Question $40$

$\frac{0}{2}$ pts

The following information is available for Wade Corp.:

Sales

Cost of goods sold

Cost of goods sold

$$550,000$

$390,000$

Total fixed expenses

Total variable expenses

$$150,000$

$360,000$

A CVP income statement would report

gross profit of $$160,000$

Net income of $$40,000.$

gross profit of $$190,000.$

contribution margin of $$390,000.$