Question: During the current year, merchandise is sold for $ 9 6 6 , 0 0 0 . The cost of the goods sold is $

During the current year, merchandise is sold for $966,000. The cost of the goods sold is $589,260.
a. What is the amount of the gross profit?
fill in the blank 1 of 2$
b. Compute the gross profit percentage (gross profit divided by sales).
fill in the blank 2 of 2
%
c. Will the income statement always report an operating income?

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