Please select the response that best answers the question. Each question is worth one point. Use the information about Farr Company presented below to respond to questions 1 - 5. Retained earnings, January 1, 2014 $ 990,000 Results of Operations for the period ended 12/31/14 Sales revenue 2,500,000 Selling and administrative expenses 325,000 Hurricane loss on plant 290,000 Cash dividends declared on common stock 33,600 Cost of goods sold 1,475,000 Sales Returns and Allowances 175,500 Computation error (pre-tax) on depreciation expense, Understating 2013 net income 52,000 Other revenue 120,000 Other expenses 100,000 The tax rate is 35% and 120,000 shares of common stock were outstanding during the year. 1.

What is my gross profit?