Question: Also: what is operating expenses, noi, net profit 18. Construct an income statement from the following information: Sales $505,000, Salaries $100,oche, Rent $24,000, Cost of

Also: what is operating expenses, noi, net profit

18. Construct an income statement from the following information: Sales $505,000, Salaries $100,oche, Rent $24,000, Cost of goods sold $250,000, Utilities $25.000, Returns and allowances $5,000, Insurance $12,000, interest expense $5,450, taxes $25,000. What is the Gross Profit

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