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Theta Enterprises' income statement for the month of August 20X77 is as follows: Item Amount Sales $4,400,000 Cost of Goods Sold $1,760,000 Gross Profit ?
Theta Enterprises' income statement for the month of August 20X77 is as follows:
| Item | Amount |
|---|---|
| Sales | $4,400,000 |
| Cost of Goods Sold | $1,760,000 |
| Gross Profit | ? |
| Operating Expenses | $1,140,000 |
| Depreciation Expense | $240,000 |
| Income Tax Expense | $960,000 |
| Net Income | ? |
Calculate the missing amounts:
- Gross Profit
- Net Income
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Accounting Principles
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
10th Edition
1119491630, 978-1119491637, 978-0470534793
