Chen Company has net sales of $500,000, cost of goods sold of $300,000, and interest expense of
Question:
Chen Company has net sales of $500,000, cost of goods sold of $300,000, and interest expense of $10,000. What is the amount of gross profit on sales?
a. $200,000
b. $198,000
c. $202,000
d. None of these
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Related Book For
College Accounting A Contemporary Approach
ISBN: 9781260780352
5th Edition
Authors: David Haddock, John Price, Michael Farina
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