Total assets for our company are $500,000, and total liabilities are $250,000. The company paid $50,000 in dividends during the year. What does the total owners equity equal

a. 250000

b. 300000

c. 700000

d. 750000

What is gross profit for a merchandiser calculated as

a. net sales minus cost of goods sold

b. gross sales minus cost of goods sold

c. net sales minus merchandise inventory

d. gross sales minus merchandise inventory