CUTIow, connect.html Test 2 Help Suvek Submit Required information The following information applies to the questions displayed below) Sanchez Company engaged in the following transactions during Yeart 1) Started the business by Issuing $11,100 of common stock for cash. 2) The company paid cash to purchase $6.900 of inventory 3) The company sold inventory that cost $4 300 for $8.400 cash. 4) Operating expenses incurred and paid during the year, $3,800 Sanchez Company engaged in the following transactions during Year 2: points (8 02 :58 1) The company paid cash to purchase $9.400 of inventory. 2) The company sold inventory that cost $8,500 for $15,000 cash 3) Operating expenses incurred and paid during the year, $4.800 Note: Sanchez uses the perpetual inventory system. What is Sanchez's gross margin for Year 2? Multiple Choice O $5,600 o O $8,500 o $8,500 $6,500 $1700 Prev 1 2 3 of 35 Next > CUTIow, connect.html Test 2 Help Suvek Submit Required information The following information applies to the questions displayed below) Sanchez Company engaged in the following transactions during Yeart 1) Started the business by Issuing $11,100 of common stock for cash. 2) The company paid cash to purchase $6.900 of inventory 3) The company sold inventory that cost $4 300 for $8.400 cash. 4) Operating expenses incurred and paid during the year, $3,800 Sanchez Company engaged in the following transactions during Year 2: points (8 02 :58 1) The company paid cash to purchase $9.400 of inventory. 2) The company sold inventory that cost $8,500 for $15,000 cash 3) Operating expenses incurred and paid during the year, $4.800 Note: Sanchez uses the perpetual inventory system. What is Sanchez's gross margin for Year 2? Multiple Choice O $5,600 o O $8,500 o $8,500 $6,500 $1700 Prev 1 2 3 of 35 Next >