LeGrand Corporation reported the following amounts in its incomestatement: Sales revenue $440,000 Advertising expense 60,000 Interest expense
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Question:
LeGrand Corporation reported the following amounts in its incomestatement:
Sales revenue | $440,000 |
Advertising expense | 60,000 |
Interest expense | 10,000 |
Salaries expense | 55,000 |
Utilities expense | 25,000 |
Income tax expense | 45,000 |
Cost of goods sold | 180,000 |
What was LeGrand's gross profit?
$220,000.
$120,000.
$260,000.
$180,000.
Related Book For
Financial Accounting
ISBN: 978-0078025549
3rd edition
Authors: J. David Spiceland, Wayne Thomas, Don Herrmann
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