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Your firm has the following income statement items: sales of $50,250,000; income tax of $1,744,000; operating expenses of $10,115,000; cost of goods sold of $35,000,000;
Your firm has the following income statement items: sales of $50,250,000; income tax of $1,744,000; operating expenses of $10,115,000; cost of goods sold of $35,000,000; and interest expense of $750,000. What is the amount of the firm's gross profit? Select one: A. $18,000,000 B. $15,225,000 C. $15,250,000 D. $5,000,110
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