Question
The spreadsheet below shows the net income model for a company that sells shoes. A B 1 Net Income Model 2 3 Data 4 5
The spreadsheet below shows the net income model for a company that sells shoes. A B 1 Net Income Model 2 3 Data 4 5 Sales $10,000,000 6 Cost of Goods Sold $ 6,400,000 7 Administrative Expenses $ 500,000 8 Selling Expenses $ 900,000 9 Depreciation Expenses $ 750,000 10 Interest Expenses $ 70,000 11 Taxes $ 620,000 12 13 Model 14 15 Gross Profit $ 3,600,000 16 Operating Expenses $ 2,150,000 17 Net Operating Income $ 1,450,000 18 Earnings Before Taxes $ 1,380,000 19 20 Net Income Which of the following would be used to calculate the gross profit? Group of answer choices =B5-B6+(B11-B10) =SUM(B7:B11)-B6 =B5-B6 =B5-(B6-B11)
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